we are borrowing $ 250,000 for a mortgage and will pay $ 3000 a month. which of these loans will we pay the least amount of interest on and how much interest would we pay on each?
loan A 30yrs @ 6%
loan B 10yrs @ 6%
Thanks nipsy, that’s about what I was thinking.
the rate from the credit union for 10 yrs is auctualy 6.125 for 10 yrs , that’s higher than the 30yrs rate but get this they want 7.75 for a 40yrs term which means the payments are higher than for a 25yr loan and 15yrs longer.
I’m gonna keep checking around!
( ATT:: I WILL NOT RESPOND TO ANY OFFERS SO DON’T WASTE MY TIME!!! )