In case folks don’t read their mortgage amortization schedule, taking out a mortgage at today’s rates you’ll essentially be buying two homes over the life of the mortgage
If you take the following:
– Buy a 500k house
– Taking a 400k mortgage with a 100k down payment
– A 30 year mortgage at 5.39%

At the end of the loan you will have paid $407k in total interest. This is probably typical of most borrowers and debt loads could go even higher.

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Iron Will

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