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Updated over 3 years ago on . Most recent reply

Marquita Hightower's profile image
Marquita Hightower's profile image
Marquita Hightower
  • Member since Sep 20, 2021
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Marquita Hightower's profile image
Marquita Hightower's profile image
Marquita Hightower
  • Member since Sep 20, 2021
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Marquita Hightower
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8
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Buying & Selling Real Estate

Finance Option Scenario

Marquita Hightower
Posted

We have 2 loan scenarios: FHA with 3% interest rate and 3.5%($17,000) down BUT we have to claim $150k of income on our tax returns for 2 years and pay IRS 70K (2 years worth) total in taxes because we are self employed.

2nd scenario: private lender offering 4.5% interest rate with 5% ($27,000) down 8 year interest only loan converting to fixed thereafter

whats the wise choice?

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