Quote:
Originally Posted by Laker14
Most buyers can do math.
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Even if they do the math and they are willing to pay an extra $20k for the house because the bond is paid off, at today's current mortgage rate of 6 percent, that is an extra $1,200 per year in interest. For some buyers, that may disqualify them for a mortgage. But, as I understand it, mortgage lenders do not even consider a bond on the house when they appraise the house or determine the buyer's mortgage eligibility.