Never heard of them. Will google I guess, thanks

Here, found via internet and changed 2 fields (it came with some ads, sorry):

docs.google.com/spreadsheets...

Depends if you get fixed or variable.

I ran the numbers:

bsky.app/profile/arda...

BradyG spotted 😎

But you save $1 in electricity over 5 years because it was LED not incandescent!

On the 50-yr mortgage, $100,000k loan, after the first year paying $526.40/mo:

You paid: $6,316.86
You owe: $99,674.28
Interest paid: $5,991.14
Principal paid: $325.72

After 12 payments your amount owed isn't even close to 1 payment amount less.

#finance #mortgage #50yearmortgage

On the 50-yr mortgage, $100,000k loan, after the first year paying $526.40/mo:

You paid: $6,316.86
You owe: $99,674.28
Interest paid: $5,991.14
Principal paid: $325.72

After 12 payments your amount owed isn't even close to 1 payment amount less.

#finance #mortgage #50yearmortgage

With a 50-yr mortgage on a 100k principal (for simplicity) and a 6% rate, the price/mo would be $526.40 ($73.15/mo cheaper than a 30-yr loan's monthly payment).

1st payment: $26.50 principal, $500 interest. 94.98% of the payment is INTEREST.

In first YEAR, 94.9% of all payments are INTEREST ONLY.

Yeah, me too, so I just did:
30-yr mortgage. 100k principal, 6% rate, $599.55/mo.
1st payment: 99.55 principal, $500 interest. 84.4% interest.
Year 1: About 83% paid goes to interest.

Imagine how much of those first payments go toward principal...

It’s his caucus.