Talk of The Villages Florida - View Single Post - Bond payment now all up front on new homes???
View Single Post
 
Old 03-24-2014, 12:04 PM
OBXNana OBXNana is offline
Veteran member
Join Date: Apr 2013
Location: Central PA, Outer Banks, NC, Pinellas (soon)
Posts: 594
Thanks: 0
Thanked 0 Times in 0 Posts
Default

We closed 2/14. We paid off the bond. The interest rate was almost double on the bond than the rate of the mortgage. If the bond is included in the selling price, the interest rate, may very possibly be lower. Plus, mortgage interest is a tax deduction and the bond is not.

I'd far rather have the bond as part of the selling price, than a payment at a greater rate of interest.