this post was submitted on 16 Oct 2023
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[–] stolid_agnostic@lemmy.ml 3 points 1 year ago (1 children)

Pay off over 15 years if you can or you'll pay about double the total value just from interest.

[–] Tar_alcaran@sh.itjust.works 2 points 1 year ago (1 children)

I do like that theory. Unfortunately my wallet disagrees with it. Thankfully we've locked it in for 2.2% for 20 year, and semi-realistically we should be able to pay it off before that runs out. But the official period is 30 years, since that's the legal maximum.

[–] stolid_agnostic@lemmy.ml 1 points 1 year ago

Gotcha. Well consider adding a couple hundred bucks towards principle each month--it would still make a gigantic impact over the term of the loan.