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Quite likely.
Although the savings in monthly payment reaches diminishing returns at some point. Nearly doubling the term (50 vs 30) only produces a ~13% reduction in monthly payment.
True, but how devalued will that payment be for years 31-50. In real terms, it'll be peanuts.
Quite likely.
Although the savings in monthly payment reaches diminishing returns at some point. Nearly doubling the term (50 vs 30) only produces a ~13% reduction in monthly payment.