The Different Ways to Pay for Closing Cost
Again the key is how long will you own the home or own the loan. If you are a first time home buyer I really recommend paying your closing cost in the rate. The odds are great you will not own the property long enough to matter too much. I am a big fan of owing less money.
Here is a table that I used to explain the different scenarios in the video.
| $200,000.00 | $194,000.00 | |
| 5.00% | 5.50% | |
| $1,073.64 | $1,107.19 | |
| $33.55 | x 12 Months | |
| $402.60 | ||
| $5,000.00 | ||
| Divided by $402.60 | ||
| 12 Years |
Fell free to contact me if you would like to discuss this further.
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