days_o_work asked:


I am planning to purchase a 200,000-250,000 home in the state of Michigan, outright with no mortgage or any loan.

Hypothetically, if I purchase a home for 200,000 what will be my total outlay of cash before the home is actually mine? Assuming I am not taking out any loan to finance this home.
Also I am not sure how much I am going to be able to negotiate for zero closing costs as I am already planning to put in an offer about 10% under the listed price.

Finally, why does the owner care if its an all cash offer or not? They get their money either way, just from me and not a finance company.

Mitchell

James C asked:


If I borrow money from my 401k to pay off my mortgage is the interest still tax deductible?

Deborah

mimi31211 asked:


The money was used to pay off credit cards. I am still paying on the home equity loan. If I do a home office deduction, which I qualify for in every way, can I use the home equity loan interest as a deductible expense?

Dean