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Percentages

July 20th, 2008 . by admin

When you stop to think about it, it really is amazing how much money is spent every year on your home. For most people, their house mortgage loan is about thirty percent of their total income. Most of this money isn’t even going to cover the cost of their loan, but rather is going to pay interest. This is especially true in the first months and years of a mortgage loan. As the borrower makes more and more payments, eventually the money goes more to the principal and less to interest. Most people would be astonished if they stopped to really look at their loan statements and found out where their money is going.