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(1) What percent of your payment goes towards principal in month 1?

(2)In month 120?

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"The cost of the house is $67,000,it is 1.34 times the family's annual income. They plan to make a downpayment of $10,000, considering the rule of thumb, it is 1.9 times their salary (%15.38). The family decided to make a downpayment of 10k, half their savings money, and left $10,000 for emergencies. They want to take a loan for $60,000, with a 30 years fixed rate. The monthly bills will consist of:

• Water, $32

• Electricity, $130

• Internet, $70

• Food/Grocery, $400

• Gas, $160

• Streaming Services, $25

Taking minimum monthly payment, $383.20, the principal is 43.5% ($60,000) and the interest rate would be 56.5% of the entire payment, ($77,952) with an interest rate of 6.600% (Calculator.net). With a credit score of 750, home price of $65,000, and downpayment of $10,000, the families mortgage total monthly payment is $449 (Google Mortgage Rate Calculator). With annual property taxes of $813 and annual home insurance of $228, taxes and fees of $98 (Google Mortgage Rate Calculator). Paying 20% more than the minimum monthly payment, it would take 18.5 years to pay off the loan. The family could afford to move."

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