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Spare a dollar?
(sh.itjust.works)
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this post was submitted on 28 Dec 2023
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Oh hmm, 18%. $377/m for 30 years discounted at the interest rate mentioned gives $58K which is around 18% of the house price of $323K. My mental math was a bit off.
I see. In this case the 30 years is irrelevant I think.
This is probably PITI cost
principal, interest, taxes, insurance. Principal and interest are zero here, but the other two continue for as long as you own the home (property tax is annual like income tax
it's not a one-time-deal like sales tax).