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Ah, no itemizing for us.

January 5th, 2009 at 03:50 pm

We will not pay enough mortgage interest to itemize, not even in the first year of paying our mortgage. Ah well, I guess I will just have DH send the IRS another $20 per paycheck to insure we don't have to pay interest on our taxes. We could do more but I am more than happy to take advantage of the free loan and just pay them at the end of the year.

I would love to be upset about this but on the other hand I am not paying money to save money so that is a good thing.

As of 2013 we will have 80% equity which is kind of neat since we only put 3.5% down and we had a fee wrapped in (mortgage insurance premium, which was weird because we didn't ask them to wrap it in). We pay an additional $27 per month until 2013 as a result. So final cost of mortgage insurance including the initial premium will be $2696.

I have to say, I consider it worth it. I love my house and am soo happy to be out of the apartment. But then, I am a natural spender so I would say that. :P

2 Responses to “Ah, no itemizing for us.”

  1. gamecock43 Says:

    you still have not posted pictures!

  2. whitestripe Says:

    YAY! glad to hear of someone else that has put down less than 5% Smile

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