Re: ZOMG I JUST BOUGHT A HOUSE
anyway, the 80/20 vs putting 20% down, etc can be debated all day long
the MOST IMPORTANT thing to do is to pay extra to your mortgage principle each month...u can pay biweekly instead of monthly, which means 1 extra payment a year...this will save u a TON of money and a few years of paying the mortgage
example: 200k loan @ 7% interest
payment = $1330/month for 30 years => 279,017 interest paid!!!
extra payment/year = 110.83/month extra = paid off in 27 years => 210,758 interest paid
279,017-210,758=$68,259 saved in interest simply by paying $110/month more
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