Following up on a previous post, I am buying my ex-husband out of the house. Including closing costs, the mortgage is $369k. Closing costs equal $4188.50 with a payment of P&I of $1,761.66. If I pay closing costs separately, the mortgage is $364,100. I would pay closing costs of $4573.80 with a payment of P&I of $1,738.27. I expect to have the mortgage for about 10 years at which time I expect to have separate funds to pay it off. Property taxes and insurance will be handled separately. Interest rate for both scenarios is 4.0%. Should I save the closing costs to my savings and roll them into the loan or am I better off paying for the closing costs out of pocket? The house needs immediate work, the basics I can cover from savings, but it will cut into my savings quite a bit.
Submitted December 19, 2017 at 06:56AM by CAGirlnow http://ift.tt/2BcTYHL
