What is the interest rate?

And 99% of the population does not understand this.

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And the bank getting that bonus 500k didn’t even have the money they get the interest from in the first place 😡

Mortgages are an amortization schedule meaning the interest you think you have isn’t the total over the life of the term. You can look at your mortgage and it will tell you how much interest you’ll actually pay

Brutal!

This is soo important to point out.

So... then in this example the true cost is approx 1300 / month for 30 years (if rates stay the same) to borrow near half a million dollars. hmm