01-23-2007, 07:13 PM
WRXtranceformed Wrote:RJ what the fuck are you talking about? You're not going to spend anywhere close to twice the cost of the house with interest!
Here are some numbers, which is really pushing it b/c this is my day off =P
$600,000 loan, we'll be REAL generous and say you're doing 100% financing, and let's be real conservative and say you have a 7% interest rate on that loan, locked in for 30 years. The total amount of lifetime interest that you'd pay on that loan would be $42,000.
I just stopped reading right here.
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Using your numbers. $600k loan, 7%, 3 years.
Monthly payment: 3991.81
You pay this for 30 years, 12 months per year - 360 months. 360 x 3991.81 = 1437051.6
Maybe I am missing the kool aid discount.