Quote:
Originally Posted by Velvet
I had to laugh when you said, the agent claimed that the bond was not part of the cost of the house. My agent also claimed it wasn’t. Although technically it isn’t. I just thought they were nuts and didn’t argue about it.
Just looked, at my area on a designer home the interest is 4.25% plus $82 administration fee, on the bond currently.
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With the admin fee, the effective interest rate is 6%-7%. Good incentive to pay off early.