What is the definition of Mortgage 30 Year Calculator?

A mortgage 30-year calculator? Well, imagine you're planning a fancy getaway to the beach with your best friend. You decide on a cozy little bungalow, but then, BAM! Your grandma's passing away and she leaves you the house with a 30-year mortgage. Now, you're saying you'll repay her, but you've got to do it over and over again for 30 years, paying interest like you're making a long-term commitment to an irate cat. That's basically what a mortgage 30-year calculator does - it tells you exactly how much you'll have to spend on that "home sweet home" over three decades.

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Now, here's a sentence that might just unsettle your mortgage planning: "With the mortgage 30-year calculator, I'm calculating a $500k home purchase, and it says I'll be paying $1,200 a month for 30 years – which means I'm essentially trading my future happiness for the comfort of a perpetual mortgage."