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
Ah, no itemizing for us.
January 5th, 2009 at 11:50 pm
January 6th, 2009 at 01:50 am 1231206653
January 6th, 2009 at 11:27 am 1231241224