• Semi-Hemi-Demigod@kbin.social
    41·
    9 months ago

    You only pay 3-4x what the house is worth if you stay in the house for 30 years and pay the minimum payment. If you pay extra on the principle - because your income went up over the last 10 years - you pay less. If interest rates go down in that time and you refinance, you pay less.

    • Dkarma@lemmy.world
      21·
      9 months ago

      Never pay extra on ur mtg omg!!! Keep your capital liquid!

      Your second to last sentence is simply not remotely true! Your last sentence is only true in certain cases.