Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in
total interest over the life of the loan.
True or false: A 15 - year mortgage typically requires higher monthly payments than a 30 - year mortgage but
the total interest over the life of the loan will be less.
Because a reduced monthly payment under the Pay As You Earn plan generally extends your repayment period, you may pay more
total interest over the life of the loan than you would under other repayment plans.
Doubling the length of the loan also more than doubles
the total interest over the life of the loan.
Doubling the interest rate more than doubles
the total interest over the life of the loan.
He's also paying about $ 90,000 less in
total interest over the life of the loan.
Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in
total interest over the life of the loan.