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SVTPerformance's Chain of Restaurants
Road Side Pub
15-year fixed vs 30 year fixed for $80,000 mortgage.
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<blockquote data-quote="ON D BIT" data-source="post: 4668137" data-attributes="member: 10422"><p>i guess you did not see that 25% of the take home pay. </p><p></p><p>using his example 30 year 80k mortgage at 6% ~ 470 + 100 for insurance and taxes ~ 570. its not exact but lets go with it. so about 600 bucks for the home. if he brings home 2400 a month(38k yearly salary) it would equal 25% of his take home pay. 1800 a month for living savings and giving.</p><p>total interest would be over 92k over the course of the 30 years.</p><p></p><p>a 15 year 80k loan at 6% ~ 675 + 100 for insurance and taxes ~ 775 or about $800. if he brings 3200 a month(51k yearly salary) it would equall 25% of his take home pay. and give him 2400 every month to live save and give.</p><p>total interest would be under 42k over the course of the 15 years.</p></blockquote><p></p>
[QUOTE="ON D BIT, post: 4668137, member: 10422"] i guess you did not see that 25% of the take home pay. using his example 30 year 80k mortgage at 6% ~ 470 + 100 for insurance and taxes ~ 570. its not exact but lets go with it. so about 600 bucks for the home. if he brings home 2400 a month(38k yearly salary) it would equal 25% of his take home pay. 1800 a month for living savings and giving. total interest would be over 92k over the course of the 30 years. a 15 year 80k loan at 6% ~ 675 + 100 for insurance and taxes ~ 775 or about $800. if he brings 3200 a month(51k yearly salary) it would equall 25% of his take home pay. and give him 2400 every month to live save and give. total interest would be under 42k over the course of the 15 years. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
15-year fixed vs 30 year fixed for $80,000 mortgage.
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