👉 The word "mortgage" is like a super-secret, secret thing that people just don't want to talk about because they're not sure what it means. But when someone says, "I'm taking out a mortgage on my house," it's like saying, "I'm borrowing $21 million from the bank." The more you borrow, the faster your payment goes up. And if you can pay off the loan fast, that's like getting a 10 percent discount on your monthly rent.
Here's an example sentence using "mortgage 2 1 buydown": "I bought a house with a mortgage last year and it's been costing me $21 million in interest every single month." That's kind of creepy, but hey, at least you can pay off the mortgage by paying down the principal.
