Mortgage Interest Rate
Why does it matter what mortgage interest rate I get?
I am a first time homebuyer. If I'm able to deduct on my taxes all my home mortgage interest costs & discount points, it is crucial that I get the lowest interest rate? Also, if I can comfortably make my monthly payments (Whether it is 15 or 30-yr) & have prepayment penalty, does it matter which one I choose?
When you pull interest from your tax bill, which lowers the impact of these costs you, but you still have to cost so it is always best to get the lowest rate. Also pay your home off with the shortest pledge may you can easily afford. It saves you money, it makes you feel more secure, it is a forced savings is a lot of positive things about paying off your home.