Quote:
Originally Posted by taylor192
How are you doing your math? The $2500 mortgage payment breaks down into:
$900 principal
$1600 interest
You got it backwards.
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I'm avg. it over 25 years I guess. (rent for 25 vs buy for 25) 480k principal over 25 even years would be 1600 a month.
comparing only the first year of buying vs renting probably isn't really fair. (unless you plan on selling after 1 year)