my tax rate is 33% or something near that since I get paid in form of K-1 (it's a partnership pay)...
would that mean that I will only save $5,520 out of the $16,728 that I pay?
that means I would still pay:
$11,208 for interest....
$8,100 for principal....
$6,600 for HOA dues...
$5,688 for taxes...
$5,928 for PMI....
a total of $37,524 for the year!? that's really hard to believe....i don't care how stupid that makes me sound but that's a lot!!...
the mortgage balance would go down by $8,100 so from $445,000 to $436,900...
there is no way my condo is gonna go up by 30K a year for the next 5 years to make this justifiable purchase!!...
it would have to go up by $150,000 to $595,000.... it's possible but not likely....