👉 Oh, the mortgagor's nightmare! When you try to figure out the cost of your mortgage by simply adding your monthly salary to the total interest rate, you're liable for a serious financial shock!
Example: "What if I had put $50,000 into my house 2 years ago at a 7.4% rate? The mortgage would have been $163,080. But wait, that's just the interest! It adds up to over $230,000 in interest alone!"
