You can still reap the benefits of homeownership (appreciation, paying down your loan, tax deductions, etc) with a 5 - 7 % mortgage interest rate, as long as you keep your monthly
payments at an affordable level.
Not exact matches
While private loans may enjoy lower rates during low interest rate cycles, the fact is that there's always a risk of rate
level changes, and the possibility that rates jump up
at some point, making
payments less
affordable or comfortable.
This way your total debt will automatically reduce and your monthly
payments will also come down
at a more
affordable level.
At Huntley Wealth Insurance, we help our clients find
affordable adult life insurance, ranging from 10 year term life insurance to permanent insurance with
level payments to age 120.
«
Payments for principal, interest, taxes and insurance have to be set
at that
level, and that's generally considered to be an
affordable income - to -
payment ratio for homeowners,» he said.