Quote:
Originally Posted by JohnN
We paid the bond at closing. The interest rate at that time was 7% or so and market rates were much lower so it was an easy decision. Do what's best for your wallet.
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Ours was 5% mortgage money was 3.2%. Hum a choice same 20,000 pay 5% or pay 3.2%. That bond, supposed to pay for streets or whatever. It is normally in the price of the home. A home priced at 350 is really 350+20=370. Would you pay 370 for it?
What would 370 buy you where they do not have a bond.