- This topic has 45 replies, 8 voices, and was last updated 15 years, 3 months ago by
AK.
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May 27, 2009 at 8:14 AM #406170May 27, 2009 at 10:56 AM #406484
Anonymous
GuestI believe the cost of buying down is tax deductible.
May 27, 2009 at 10:56 AM #406936Anonymous
GuestI believe the cost of buying down is tax deductible.
May 27, 2009 at 10:56 AM #406790Anonymous
GuestI believe the cost of buying down is tax deductible.
May 27, 2009 at 10:56 AM #406241Anonymous
GuestI believe the cost of buying down is tax deductible.
May 27, 2009 at 10:56 AM #406727Anonymous
GuestI believe the cost of buying down is tax deductible.
May 27, 2009 at 11:49 AM #406737UCGal
ParticipantYou need to calculate the break even point where the lower payment has covered the added closing costs.
Then determine if you’ll be in the house longer than that.
If you think this is a “few years” home – it may not make sense to buy down the rate.
If you think this is a “forever” home – and your job is stable so there’s little chance you’ll be forced to relocate for work… etc.. Then it can make sense to buy down point.
Here is a whole list of calculators to play with.
http://www.google.com/search?hl=en&q=break+even+point+mortgage+points+calculator&aq=f&oq=&aqi=
May 27, 2009 at 11:49 AM #406251UCGal
ParticipantYou need to calculate the break even point where the lower payment has covered the added closing costs.
Then determine if you’ll be in the house longer than that.
If you think this is a “few years” home – it may not make sense to buy down the rate.
If you think this is a “forever” home – and your job is stable so there’s little chance you’ll be forced to relocate for work… etc.. Then it can make sense to buy down point.
Here is a whole list of calculators to play with.
http://www.google.com/search?hl=en&q=break+even+point+mortgage+points+calculator&aq=f&oq=&aqi=
May 27, 2009 at 11:49 AM #406799UCGal
ParticipantYou need to calculate the break even point where the lower payment has covered the added closing costs.
Then determine if you’ll be in the house longer than that.
If you think this is a “few years” home – it may not make sense to buy down the rate.
If you think this is a “forever” home – and your job is stable so there’s little chance you’ll be forced to relocate for work… etc.. Then it can make sense to buy down point.
Here is a whole list of calculators to play with.
http://www.google.com/search?hl=en&q=break+even+point+mortgage+points+calculator&aq=f&oq=&aqi=
May 27, 2009 at 11:49 AM #406494UCGal
ParticipantYou need to calculate the break even point where the lower payment has covered the added closing costs.
Then determine if you’ll be in the house longer than that.
If you think this is a “few years” home – it may not make sense to buy down the rate.
If you think this is a “forever” home – and your job is stable so there’s little chance you’ll be forced to relocate for work… etc.. Then it can make sense to buy down point.
Here is a whole list of calculators to play with.
http://www.google.com/search?hl=en&q=break+even+point+mortgage+points+calculator&aq=f&oq=&aqi=
May 27, 2009 at 11:49 AM #406946UCGal
ParticipantYou need to calculate the break even point where the lower payment has covered the added closing costs.
Then determine if you’ll be in the house longer than that.
If you think this is a “few years” home – it may not make sense to buy down the rate.
If you think this is a “forever” home – and your job is stable so there’s little chance you’ll be forced to relocate for work… etc.. Then it can make sense to buy down point.
Here is a whole list of calculators to play with.
http://www.google.com/search?hl=en&q=break+even+point+mortgage+points+calculator&aq=f&oq=&aqi=
May 28, 2009 at 11:57 AM #406685AK
ParticipantAnd if you’re going with an assumable loan (I think that applies to most FHA and VA loans), buying down that rate may enhance your future resale value.
May 28, 2009 at 11:57 AM #406928AK
ParticipantAnd if you’re going with an assumable loan (I think that applies to most FHA and VA loans), buying down that rate may enhance your future resale value.
May 28, 2009 at 11:57 AM #407172AK
ParticipantAnd if you’re going with an assumable loan (I think that applies to most FHA and VA loans), buying down that rate may enhance your future resale value.
May 28, 2009 at 11:57 AM #407234AK
ParticipantAnd if you’re going with an assumable loan (I think that applies to most FHA and VA loans), buying down that rate may enhance your future resale value.
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