Not only with lower monthly payments, but
also less total interest paid over the life of the loan.
Not exact matches
But she
also paid a lot
less in
total interest over the long - term, and that's the upside.
There is an exceptionally common error about mortgage payment frequency out there that
also appears in WLR, «The more frequent your mortgage payments, the
less total interest you will pay over the length of your mortgage.»
Also, when you consider what the value of the property is likely to be in 35 years the
interest paid is likely to be much
less than the
total interest paid — this is why people investing in real estate choose to borrow as much as possible, even though it increases the
interest paid to be more than the rent income received (here in OZ the overall loss is tax deductible against other income, eg.
But she
also paid a lot
less in
total interest over the long - term, and that's the upside.