Hey, hey, welcome to the most wonderful real estate podcast ever. Okay, so I want to wrap up this

Today to tie into the last four shows

last five

where we talked about

It's the housing market about to break again

The housing market about to break again now what I did is if you just listen back over the last four or five shows

We've been talking about the difference in the interest rate so I told you I needed to take a second

So I could figure up the interest rate on a 30 year loan so

So a two-and-a-half-lar loan at three percent interest, which is what we had for a while

Over the course of 30 years you borrow 200 you pay back a total of

$30,000

$554 so the main makes basically $103,000 off of

the 200 over 30 years at just three percent interest

Now when you take the same

200,000 and you got a six percent interest and six percent interest over 40 years

You borrow 200

But you actually pay back over that entire time you actually pay back

$528,000 to $10 so the bank makes

$328,000 on you so I

And so I stopped for a second so I could figure it up over 30 years. This is really interesting

So if you take the same $200,000 and you say hey, I'm only gonna borrow it for 30 years not 40

I'm gonna do it for 30 your payments only

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