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Becoming a homeowner may be the ultimate dream of many Americans, but the process can be stressful. Not knowing the ins-and-outs of complicated mortgage agreements and terms is a common anxiety.
With elevated interest rates, securing a mortgage to buy a house can be challenging. But what could be more surprising is how the numbers actually work once…
With elevated interest rates, securing a mortgage to buy a house can be challenging. But what could be more surprising is how the numbers actually work once you start making mortgage payments. "New mortgage math is brutal," Austen Allred, co-founder and CEO of online coding bootcamp Bloom Institute of Technology, wrote in a recent tweet. Allred explained that if you purchase a $1 million house with a $200,000 down payment and get an $800,000 mortgage at a 7% interest rate, in the first three yea