[bozaville]

How do I find out the balance of my Bond?

[retiredguy123]

Go to districtgov.org, click on residential bond assessment information, click on amortization schedules, click on your county, district, etc. It will show the entire amortization schedule for your bond, assuming that you have not paid it off.

[bozaville]

Thank You!

[CWGUY]

Originally Posted by bozaville

How do I find out the balance of my Bond?

Bond Amortization Schedules

[Villageswimmer]

Be sure to check the interest rate. It varies depending on when the home was built. Mine was a whopping 6.125%.

[Tom C]

PS - as a buyer, I ALWAYS add the bond to the asking price of the house when comparing homes for sale. I believe (its just how I do it) that the bond amount should ALWAYS BE CLEARLY STATED in homes for sale. It is in fact, part of the capital amount you are or may be financing (directly or indirectly).

[twoplanekid]

Originally Posted by Tom C

PS - as a buyer, I ALWAYS add the bond to the asking price of the house when comparing homes for sale. I believe (its just how I do it) that the bond amount should ALWAYS BE CLEARLY STATED in homes for sale. It is in fact, part of the capital amount you are or may be financing (directly or indirectly).

It is my belief that the bond amount is not included in bank financing calculations and not included in an appraisal value. I base this on my experience financing my Village home purchase in 2014.

[Tom C]

2-plane,

You are absolutely correct. However, you are paying for both, at an interest rate (some here have said they are paying in excess of 6% on their bond!). You ARE paying different parties, but you are still paying for both.

I am saying that to compare the overall costs, I add the bond to the asking price when looking at or comparing homes that are on the market.

[Jgg7933]

Originally Posted by bozaville

How do I find out the balance of my Bond?

Just take a look at how much interest is being charged on the bond and how front loaded it is. I bought 9 years ago with the intent of not moving from my house and paid off the bond immediately. After 8.5 years I am saving tons of money now. Of course if you have plans on moving to another house within 8 years or so from purchase most choose not to pay it off. The realtors are apparently trained to tell everyone to NOT pay it off but I consider that pretty bad advise. Even if selling within 8 years, houses with bond PAID are much more attractive than still having a bond that is almost the same as it started out. Either way, you have to factor in that the bond is part of what you are paying for the house.

[manaboutown]

Originally Posted by Villageswimmer

Be sure to check the interest rate. It varies depending on when the home was built. Mine was a whopping 6.125%.

And as I understand it the interest on the bond is not tax deductible as mortgage interest usually is for most folks most of the time.