Even with the current mortgage interest rates hovering somewhere between 4-7%, depending on your financial profile, this is still nothing to complain about. In the early 1900s, homebuyers typically had to pay a 50% down payment with a 5 year amortization period. This meant that those who bought a house or property typically already had a lot of money. If you were buying a $100,000 house, you would have to pay $50,000 and pay off the remaining $50,000 within 5 years.
So let’s go shopping for your new house!!!! Call me.
Read about the history of mortgages with this fine article.