Talk of The Villages Florida - View Single Post - Bond payment now all up front on new homes???
Thread: Bond payment now all up front on new homes???
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Old 03-24-2014, 03:33 PM
mickey100 mickey100 is offline
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Quote:
Originally Posted by OBXNana View Post
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.
If you're not paying the bond off it makes financial sense to have it as part of the selling price.