Originally Posted by
Ar Pilot
with 6-7% interest rates today, how much are you actually paying down your mortgage vs paying in interest the first 10 years of ownership?
450k, 30yr mortgage at 7% you pay $65k to the principle and $300k to interest over the first 10 years.
You are paying it down exactly the same amount as a 3% mortgage. The answer however is not much. That is why I did 15 or 20 year loans. Or just add some amount to your payment each month. Any time I refied a loan I kept making the same payment as the original loan. Does the same thing.
Last edited by sailingfun; 10-30-2024 at 04:26 AM.