SOLUTION: you buy a house for $160,000. you pay 10% down and finance the rest paying 8% interest on the remaining balance for 30 years. 10 years later you refinance the balance left at 6% fo
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-> SOLUTION: you buy a house for $160,000. you pay 10% down and finance the rest paying 8% interest on the remaining balance for 30 years. 10 years later you refinance the balance left at 6% fo
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Question 326664: you buy a house for $160,000. you pay 10% down and finance the rest paying 8% interest on the remaining balance for 30 years. 10 years later you refinance the balance left at 6% for 30 years. since you are paying for a new 30 year loan in addition to the 10 years you have already paid, how much are you saving monthly to take advantage of the lower interest rate? Answer by rfer(16322) (Show Source):
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