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hypelightfly , 10 months ago Adjusted for inflation comparing interest paid for 30 year fixed: Loan Amount: $185,457 @ 16% - Interest Paid: $720,306 and Total Cost: $905,763 Loan Amount: $416,000 @ 7% - Interest Paid: $580,923 and Total Cost: $996,923 That's closer than I thought actually.
Adjusted for inflation comparing interest paid for 30 year fixed: Loan Amount: $185,457 @ 16% - Interest Paid: $720,306 and Total Cost: $905,763 Loan Amount: $416,000 @ 7% - Interest Paid: $580,923 and Total Cost: $996,923
That's closer than I thought actually.