$100,000.00 @ 3% fixed for 30 years = around $80,00.00 interest.
Oh yeah, that's 'free' money that only costs $55.00 a week.
The financial institutions of America love you guys.
But if invested wisely, that $100 grand will net way more than $80 grand, after tax in 30 years. So technically you are right, it’s not free, but it likely not the best net financial decision.
But its the decision a majority folks have made in order to own a home. How many people, especially starting out have the cash to buy a home out right and another 100k to invest. Mortgages are always gonna be there for most. Might as well be at 3% instead of 7%. But yeah, I would certainly imagine that home will be worth a lot more than 150k you paid in the long run over 30 years as long as its been halfway kept up and in a decent area.
