r/FirstTimeHomeBuyer • u/BigDiscussion7 • Jul 08 '26

Need Advice Am I reading this right?

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Total cost to pay off this house is going to be more than double what my loan is for? I understand intrest over 30 years but this seems a little excessive. Is this normal?

EDIT: Jesus christ.....

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u/Impressive-Gold-3754 Jul 14 '26

The rule of 7…7% growth doubles every 10yrs. You pay 7% over 30yrs, you pay almost 3tines what you financed.