If you never pay extra (on the loan), you will still owe the same amount you originally borrowed after having owned the home for three to five years.
The 40-year loan is advantageous, because it allows the borrower to qualify on a lower monthly payment, thereby increasing the loan amount they can qualify for.
This can be a great loan for people who (anticipate) increasing incomes over the next few years, or other circumstances that would allow them to pay extra after they get into the house.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.