zoner(13:24:55)
so if you are lucky or do things right, you "lock in" a good rate, and ride that out, even if interest rates for people getting new loans are much higher
Rapture(13:24:14)
well even for tiny house, I could "take credit". yep yep. have to dive more into these subjects in some time.
zoner(13:24:09)
typically, the interest rate is "locked" so it never changes
zoner(13:23:23)
when you buy something that is very expensive, you ask a bank to loan you money, but the bank wants you to pay back the money over time, with a little bit extra (called the interest)