Updated over 2 years ago on . Most recent reply
30 vs 40 year
I’m just getting into my real estate journey and am working on understanding all my financing options when it comes to my first purchase. I recently spoke with a lender that is able to offer a 40 year mortgage with 10 years of interest up front. Wondering if anyone has experience with this type of loan? I know the overall interest is higher but the trade off of a low monthly seems to make up for it? What’s the drawback other than higher interest paid?
Purchase: 1,100,000
25% down
12k monthly income from rent