You’ll Never Consider a Mortgage After You Know These 11 Scary Facts

1. Over 30 years you’ll pay roughly double the selling price

If you’re lucky, you’ll qualify for a relatively low interest rate. Regardless, a 30 year mortgage is going to cost you at least double the selling price of the home by the time you pay it off.

Though the monthly payments are lower with a 30 year mortgage than in a 15 year mortgage, always go for the shortest term possible to avoid getting sucked dry by your lender.