30% interest by the time a mortgage is paid off?

[astrohip]

Originally Posted by rrah

You're correct. Sorry.

No worries!

[Capitalprophets]

Originally Posted by anononcty

Just a curiosity question but on a 10 year mortgage or refi by the time it is paid off including all the interest, service fees etc would paying the equivalent of 30% interest be low, high or average?

Bigger question is, do you want to be debt free in 10 or 30 yrs? Nothing beats paying off in 10 due to the amount of interest savings

[Grlzrl]

Originally Posted by adjusterjack

Huh? That makes no sense.



The total amount of the interest you pay over the life of the loan may be 30% of the loan amount.


But you aren't paying 30% interest.