Approx. what would be the total interest on an $80,000 home loan at 6% for 15 years?

Deal Score0

Trying to figure out how much would be saved if one paid cash for a $ 80,000 home as opposed to getting a 15 year mortgage at 6%.

  1. Reply
    May 16, 2011 at 3:41 am

    41,515.38 interest paid on a 80k loan @ 6% for 15 yrs.

  2. Reply
    May 16, 2011 at 4:30 am

    Don’t forget that $ 80,000 would be earning interest (on a declining balance) as you left it in the bank and used it to pay the mortgage so your “savings” is not a big as a simple calculation.

    Leave a reply

    Register New Account
    Reset Password