[gubamyster]

As for your expected $800/mo. deduction you should understand that you still have to pay the same amount monthly and only realize the benefit of that deduction in the following year at tax time.

This is not exactly correct. You can immediately go to your payroll department and change your W-4 withholdings and receive changes to your current payroll withholdings. Depending upon your company, this would become effective within a couple of payroll cycles. You would have less taxes taken out & thus be able put that towards your mortgage. With the deductions, you would owe less taxes next filing date. I assume your tax advisor would have calculated out the $800 amount you are quoting based on last year's income & this years projected earnings, as well as the deductions you will receive for the home ownership.

[wtc911]

As a self-employed I didn't think of that angle. I still think, based on what info DD provided, that his intention is admirable but ill-advised. I would give the same answer to any of my own kids, given the same circumstances.