16 years ago I found myself at my kitchen table crunching numbers, planning my business, planning my mortgage, planning my financial future. I was a hotshot MBA, business owner, and had just purchased my first home. I had an office at the mouth of the canyon with a dozen agents working for me. I owned a couple of cars and a motorcycle. The year was 2007. Real estate was hot, but there were strange things on the horizon.
As I sat at the kitchen table, I was trying to analyze my 2 mortgages. As was the trend back then, you could get an 80% mortgage and then a separate 20% mortgage to get away from having to pay Private Mortgage Insurance.
On my excel spreadsheet, I created a column for payments and for interest and for principal and for payments. Then when I clicked some buttons, everything went to ZERO. I had unwittingly created an amortization calculator. It was pretty cool!
Then as I looked at my loan, I was amazed to see how much interest I was paying.
It was a lot. 95% of my payment was interest. It was stupid.
WashburnRE has been serving sellers, buyers, and investors for 2 decades in Utah County and surrounding areas. With thousands of transactions completed, we specialize in New Construction homes and have relationships with dozens of artisans. We look forward helping you maximize your investment and get exactly what you deserve.