I just bought my 1st home Dec 31st... Worked with the bank to take out 2 mortgages so I could get around PMI and I actually pay the house off faster and save money together. 1st mortgage for 80% and the 2nd for 15%. Only had to put down 5% and the seller paid closing!
Since I bought my house between June 2008 and June 2009 I qualify for the First Time Home Buyer tax credit. Basically its a $7500 government interest FREE loan. Dont have to start making payments for 2 years (2010 taxes) You pay $500 a year for 15yrs and it comes out of your tax return. You already pay in so really you dont see it.
I'm getting around 10k back just because of the credit, so that will go to all new appliances and a remodel for the 1st floor. Feels good to finally own a home!
Although say goodbye to any time for the DSM...
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