3 ms·
Principal; of a $5k mortgage payment, $1.5k is likely going towards the principal; meaning, they are paying $3.5k versus $3k rent; Add in that the $3.5k is inte
by smileysteve 4y ago
Principal; of a $5k mortgage payment, $1.5k is likely going towards the principal; meaning, they are paying $3.5k versus $3k rent; Add in that the $3.5k is interest or property tax expenses, and will save 25% ($875) on a significant portion of that.
So, after doing the math; $5k is actually costing $2.625k versus renting $3k.