If you put everything default, borrow 100K, you put the mortgage as 7%:
You have to pay 700 per month.
how about the mortgage is 5%? If you borrow 120K, you only have to pay 698 per month.
That's say, you buy the house 2 years late with the mortage 100K at 7%.
Or you buy the house now with the mortgage 120K at 5%, you pay the same thing every month. Right????
But now you can affort 120K, 2 years late, you can only affort 100K! Just because the mortgage rate!
You have to pay 700 per month.
how about the mortgage is 5%? If you borrow 120K, you only have to pay 698 per month.
That's say, you buy the house 2 years late with the mortage 100K at 7%.
Or you buy the house now with the mortgage 120K at 5%, you pay the same thing every month. Right????
But now you can affort 120K, 2 years late, you can only affort 100K! Just because the mortgage rate!