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1 day agoTrump pay for something? Yea right…
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Joined 2 years ago
Cake day: June 7th, 2023
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2·3 days agoI sure wouldn’t say ‘all’. The first years of your mortgage you are paying the bank more in interest than you are knocking off the principal.
A $300k home with 20% down and an interest rate of 3.5% on a 25 year amortization schedule will see the buyer paying $8k in interest versus $6k towards the principal at the start. Over the course of the mortgage, the $300k home will cost $420k thanks to the $120k in interest the bank takes.
Totally agree.