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06-09-2017, 04:52 PM
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Sage
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Join Date: Mar 2015
Location: The Villages
Posts: 13,641
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Quote:
Originally Posted by villagetinker
You can call VCDD office to get the exact bond information for the area where you are buying. You have the option to pay over time (30 years), and ours was over 5% interest rate. NOTE: you cannot claim this on your taxes! As mentioned above, if you do a search on this site, you will gets lots of info, especially about paying this off. IMHO, talk to your financial advisor about the best approach on keeping the bond yearly payments or paying it off.
If you are buying new you will have the full amount of the bond, if you are buying resale, some of the bond has already been paid off, or possibly paid in full. As for closing, yes be prepared to have several thousand dollars in closing costs, your realtor or sales agent should have the approximate numbers.
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VT is right again. But to the point of the bond, none of the closing costs are higher because of the bond, it is a separate issue
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