Well lets see, the average price of a 2 bedroom in the boulder area is $265,000. I assume you got a good loan at around 4% APR over 30 years. The total amount you will pay is approx $460,000 which is 2 HUNDRED THOUSAND dollars in interest you dummy.
40% tax to cash in stock to do that.
I posted the exact amount it would cost in interest on the last page, you dumb schmuck.
40% tax? You mean to tell me that your wife bought all of her stock THIS YEAR? You told me she has had stock for years and years and years now, which mean you either lied to me, or you have no fucking clue how taxes on the selling of stocks works. Which is it?
loan is much less and payments are a bit higher. and we are going to make payments greater than required since we can easily afford to.$265k @ 4% with monthly payments of $1265.15 will wind up costing $190454.19 in interest over 30 years.
Great formula for calculating periodic payments (P),
where L=loan amount, i=decimal rate of interest (A.P.R.), n=number of periods p.a. , & t = years of term.
That gives me an idea for plotting it in Maple...thanks for the inadvertent inspiration!
that the smart way to do it...if possible
i propose an alternate explanation: you are an idiot.
all this, and i am gonna be paying taxes on my illegal income now. finally figured out a decent way to do it that won't get me aufdited or busted.
30 year loan at 4.125%. gonna be knocking out an extra $300 or so a month (or more) so we can refinance after a couple years and drop the mortgage insurance, which we do not need but which is required by law.
Do tell...
That's what insurance ideally is for. To offset a cost--via leverage--one would otherwise bear.
Did you check if it was a fixed rate or variable?
i would sooner slam my dick in the car door than sign a variable rate mortgage.
Variable is nasty...if interest rates were Volckered, those people get fucked. But even fixed rates have renewal periods (5yrs around this part of Kuhnuhduh). I also seem to recall the American mortgage system getting an overhaul post-GFC.
the mortgage insurance payments are fixed and we can get rid of them once we pay off 20% of principle. if we're lazy on payments and i don't build a greenhouse and stay inside, that'll take 4 years. if the greenhouse is up next spring and we just pay what we're paying now (aside from the GH income), it'll take a year or so.
Ahhh... it sounds like it is a fixed monthly fee based on principle paid, correct? If so, how much is it? Is it also percentage based or a generic fee (e.g. $19.95)?