You apply for a mortgage loan on a $120,000 condo using 80% loan-to-value.

You apply for a mortgage loan on a $120,000 condo using 80% loan-to-value. Going interest rates are 4.00%, but after thoroughly surfing the net, you find a lender to grant you a loan at 3.25%. and jump on it. It’s a 30-year loan paid monthly. How much interest would you save during the first 10 years of the loan now that you’ve found the lower interest rate?

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jeff jeffy answered 2 years ago

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