Quote:
Originally Posted by Chuck Norris
they'd probably think my parents paid for it and even if they knew it was mine, they'd probably still think I'm a reject and talk shit about me as they drive by my house. Face is such a fucking joke and was created so companies could sell a bunch of shit to people who are too insecure and stupid to know any better.
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I got a good laugh out of this part.
But going back on track, I completely agree with everything you said and just want to add one little bit. Whatever interest rate you sign now, is only good for whatever the term in on the contract, whether it is 3 years, 4 years or 5 years. After that, you will have to negotiate a new contract and pay whatever the interest rate is then.
Also, if you do take the full 25 years to pay off the mortgage, you will have paid out in interest the same if not more $$$ than the principle borrowed, ie borrow $350k and you will pay out over $700K over the 25 years.