Once they have this number they'll often try to pad their profits by packaging a lot of extras into the loan (extended warranties, document fees, loan origination fees, window etching, fabric protection, etc.) and then stretch the loan out over as many years as possible to
meet your monthly payment target.
While there are many reasons a shorter term may appeal to you, be sure to compare your
monthly payments under different scenarios to make sure you can comfortably afford the
payments and still fund your retirement plan and
meet other savings
targets.
By tying the mortgage interest - rate buy - down proposed in our Plan to specific energy reduction
targets and homeowner investments, three highly beneficial and desired results are achieved: 1) new demand for Building Sector jobs is immediately generated, benefiting not only the Building Sector, but all the industries and sectors that support the Building Sector, 2) a homeowner's
monthly mortgage
payments and energy bills are significantly reduced, providing disposable income and making it much more likely that they can
meet their
payments, and 3) creation of a new $ 236 billion per year renovation market that does not currently exist.