Bank Workers, Rejoice!

Comments

• ToiletFlushShowerScream@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

  Just more evidence that this administration gladly serves up the American people to wall street. I am not a particularly smart person, but even I know there is zero advantage for home buyers here. It ballons the cost of a home multifold. Since the American leaders are smarter than me, it means that they are proposing these financial slavery contracts ON PURPOSE, and their goal is to bleed away the last dollar from the average American. Didn’t Elizabeth Warren warn this was going to happen?

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• blarghly@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

  Relevant

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• Hufschmid@sopuli.xyz ⁨2⁩ ⁨weeks⁩ ago

  30 vs 50 year mortgage at 6.25% interest rate on a $450,000 home:

  30 year: $2771 per month and pay $547,000 in interest over loan duration ($997,000 total) 50 year: $2452 per month and pay $1,020,000 in interest over loan duration ($1.47 million total)

  So for the extra cost of $319 a month ($114,000 over 30 years), you can save $473,000 by going with the 30 year loan, and be done 20 years sooner.

  Sourced initial figures from this cnn article: www.cnn.com/2025/11/11/…/fifty-year-mortgage

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