I've revisited modeling annual home purchase expenses, more accurately (?) projecting the various categories over the life of the loan.
This chart shows how the effective monthly expense shrinks over time (as the principal is paid down) and also the rising opportunity cost of your down payment and the lost compounding interest.
But with interest rates at sub-3%, this latter factor isn't that big a deal. . .
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I've revisited modeling annual home purchase expenses, more accurately (?) projecting the various categories over the life of the loan.
This chart shows how the effective monthly expense shrinks over time (as the principal is paid down) and also the rising opportunity cost of your down payment and the lost compounding interest.
But with interest rates at sub-3%, this latter factor isn't that big a deal. . .