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Real Estate
Reply to "Whats wrong with a 50 year mortgage?"
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[quote=Anonymous]If you take out a 50 year loan at 4% for 320k, you end up paying $420k in interest. For 20 year, it would only be $120k in interest. If you take out a 20 year loan at 3% for $650k, interest would be $215k. That increases to $605k in interest for 50 years. Most people don’t want pay that much just in interest. [/quote]
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