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its the end of the rule as we know it (lemmy.blahaj.zone)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 1 year ago (1 children)

Pay off over 15 years if you can or you'll pay about double the total value just from interest.

[–] [email protected] 1 points 1 year ago (1 children)

I do like that theory. Unfortunately my wallet disagrees with it. Thankfully we've locked it in for 2.2% for 20 year, and semi-realistically we should be able to pay it off before that runs out. But the official period is 30 years, since that's the legal maximum.

[–] [email protected] 1 points 1 year ago

Gotcha. Well consider adding a couple hundred bucks towards principle each month--it would still make a gigantic impact over the term of the loan.