Wednesday, November 23, 2011

How much interest would i pay with a 40 year mortgage?

heres the info.


if you had a mortgage for 40 years with payments once a month.


with a 4.75% interest rate.


the principle amount is 125,000.00


how much interest alone would be paid once you finished your payments?How much interest would i pay with a 40 year mortgage?
Monthly - 582.20


Interest - 154,454.71


Total paid over 40 years - 279,454.71How much interest would i pay with a 40 year mortgage?
279,454.71 that's a 124,454.71 difference That's how the banks get rich. 40yrs I would go for a shorter time frame, if I was you

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