Purchase price: $185,000 Term length: 30 years
20% down, 3.49% (3.662% apr) $10,000 closing costs (includes 2 points)
25% down, 3.875% (3.972% APR) $6,000 closing costs (0 points)
I’m asking regarding tax write offs for interest vs points purchased not being a write off.
I believe that putting 25% downhill actually end up costing $5,000 more after 30 years… I was shocked to calculate that. But… I wonder if the tax write offs will cancel that out (higher interest rate means more write offs… hut on a smaller loan amount……….)
Thanks in advance!!!