|
KS and NE in eastern 3rd | I've bought a lot of land and the payments seem tight the 1st 5 years then seem to get easier to make. By the 10th year the payments seem to be about the going rate for rent and I've typically accumulated enough cash to pay them off and buy more. If you're borrowing a million dollars 1% change in intetest is 10k dollars the 1st year. I'd go with the 5 year. On a million dollars you will spend nearly 100k more in interest over the course of 15 years if rates stay the same.
I will say I have locked land loans for longer terms but the spreads on rates were not like they are today.
Edited by JUST LEARNING 6/21/2018 14:15
| |
|
interest rate crystal ball
