Quote:
Originally Posted by F1Venom
Getting a loan for $800k at 3% for 15 years equates to paying nearly $600k in interest payments alone. Can you imagine before with 8% rates? So buying a house right now isn't too bad.
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600k in interest!?
That doesn't pass the sanity check. Its $154,438 assuming a fully amortizing 15-year mortgage. Even if it were interest only you would only pay $360,000 (800K X .03 X 15).