Quote:
Originally Posted by MNViking
...
Our interest would be in something under the $300K mark with Bond already paid, ...
|
A bit of clarification on the bond.
An important distinction is that the bond is not a personal debt. It does not count against your credit score or mortgage. The interest of not deductable.
Without the bond, the cost of the home and likely what you need to pay/finance for the home higher.
The bond is against the property. When a property sells, the bond remainder becomes responsibility of the new property owner.
Paying off the bond early risks not recovering that money at time of sale.
Good luck in your search.