Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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There are quite a few important factors to consider in addition to the interest (which is tax deductible).
You mention a 750k loan which would put you into Jumbo products, where the pricing...
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Makes sense. But the 3% is on $750K (lets say). It is a lot of interest .. don't you think?
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Good point.Will check that.
Thx!
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Sure but it gives you the option. Double check to see if there is a prepayment penalty. Likely you will be able to pay make more that just your mortgage payment, then if you need to you have the...
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Thanks guys. Will keep in mind.
Thx Adam. Do you suggest any particular bank for mortgage?
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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I would probably recommend the 15 year mortgage plan. Reason being that you would account for paying higher monthly payments, and will have your home paid off sooner. That means that you will pay...
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Do 30 years get that tax wright off..You can always pay that other 1200 a month direct to Principal if you really want.Or save it up and buy a rental property.
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Hello,
Planning to buy my first home in the Fremont/Milpitas area in South bay,CA. I've been going to open houses in these areas. Did some basic research online and went through a few forums in...
Planning to buy a house in Fremont/Milpitas area, CA
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Thread created 02-05-2013 by spdhanraj
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Sure you will pay less interest but there is a cost in doing so as the OP already indicated. If one of them wants to take a break from work then it would be difficult to do so. Money is dirt...