PSA, you will actually pay $1M for your $500k house at today's rates
PSA, you will actually pay $1M for your $500k house at today's rates
This might be duh for some people, but if you're like me and considering a mortgage; at today's rates in the US at around 5-6%, over 30yr mortgage you will pay about same in interest as you will for your house price.
Your $500k house will cost you around $1M total over thirty years.
I was surprised.