Jessica Riedl 1 day ago
Let's say you take out a $400,000 mortgage loan at 6.25% - and choose a 50-year mortgage instead of 30 years.
In return for saving $283 monthly, you will pay an extra $421,302 in interest over the life of the loan.
Or if you sell at 15 years, will have paid down just $29,000 in equity. Not good.
add a skeleton here at some point