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'You Paid $166K In Interest, $25.5K In Principal': Tech CEO Explains The 'Brutal' Math Behind New Mortgages

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… ....

Austen Allred , Bloom Institute Of Technology , Bloom Institute , Reaking News ,

'You Paid $166K In Interest, $25.5K In Principal': Tech CEO Explains The 'Brutal' Math Behind New Mortgages — Here Are 3 Ways To Invest In Real Estate Without Buying A House

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 ....

Austen Allred , Elon Musk , Vanguard Real Estate Index Fund , Bloom Institute Of Technology , Bloom Institute , Benzinga Pro , Brutal Math Behind New Mortgages , Real Estate , Mortgage Payments , Real Estate Investment Trusts ,