Bond on Homes
Thought you might be interested:
What does a bond on a home in The Villages actually cost you?
There is a written pay off chart and for a $30,000 bond
by the time it is paid off you will have paid $74,050.412
You will have paid interest of $39,732.39 and admin fees of
$4,443.02
At the end of ten years you will have only paid off $1,401.74
Depending on the bond cost it could double your yearly
tax bill which in turn raises your monthly loan payment.
You really need to add the cost of the bond on to any home
you are considering buying.
And new homes have a significantly higher bond than resale homes. Usually up to 2.5 times that of a house that is 3 years old.
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