96
PSA, you will actually pay $1M for your $500k house at today's rates (lemmy.world)
submitted 1 year ago by to c/personalfinance@lemmy.ml
50 comments fedilink hide all child comments
 

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.

https://m.mortgagecalculator.org/?q=A1Nzy-8KX

you are viewing a single comment's thread
view the rest of the comments
[–] 2 points 1 year ago

That's a completely separate discussion though. We make financial decisions based on how things are, and political decisions based on how we think they should be.

  • permalink
  • fedilink
  • source
  • parent