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Lolakulu:

bilak ball garu. naaku unna cheema lanti brain tho answer chestha deeniki.

1. 500k house with 20% down payment means you will get 400k loan from bank. This 400k is morgages over 20 years let say. 2400$ monthly pmt is sum of interest + principal that sums around to $576000 (mostly interest in the begining of mortgage duration).

2. you paid pmts for 5 years. that means 2400*60 months = $144000. So you still have another 15 years of payments ($432000).

3. now you sold house after 5 years for 500k. so new buyer will pay 500k to escrow account (middle men) who will pay that $432k balance on your part to your lender and transfer remaining 68k to your account.

4. so you will receive only 68k in the sale of the house at this point of time. Actually you paid $144k to bank as payments. so you will be loosing 76k in this whole scenario of owning house for just 5 years.

5. that's why you need to sell house for $580k atleast just to be in zero loss for you.

6. thappulu unte manninchu. asalu arthame thappu anukunte kshminchu. naaku ee concept ajbond annai seppadu. so all rights reserved to him only.

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