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Homeownership Costs

Understanding the true cost of homeownership is crucial; a 30-year mortgage can lead to paying nearly $350,000 in interest alone. Opting for a 15-year mortgage not only saves money but also accelerates your journey to being debt-free. If you're feeling overwhelmed by your current mortgage rate, remember that refinancing is an option, and making extra payments towards the principal can significantly reduce your loan term. It's never too late to improve your financial habits and build wealth.