Not closing cost

来源: 于 2012-12-20 20:54:57 [博客] [旧帖] [给我悄悄话] 本文已被阅读：次

The longer the term of your loan and the big portion goes to interest and not your principle.

10 year loan, monthly payment is 2300 and 490 is interest and 1800 is principle.

30 year loan, monthly payment is 1000 and 650 is interest and 350 is principle.

I prefer shorter loan based on that reason.