If the amount required to buy a house is $2,975.30 one year but the buyer waits it out 5 more years so he/she has more money to pay it off faster and easier, how much would the amount be raised to if it were with a 25 year mortgage?
Your question, as posed, doesn't make sense. What is $2,975.30? Is it the monthly payment? How about the interest rate, or the amount of the mortgage? What interest rate do you have in mind?.....etc. If it is a monthly payment, it would stay the same on a 25-year mortgage, if the interest rate was the same!!. The price of the house might go up in 5 years' time, depending on a number of economic conditions, such as full employment and healthy annual growth in the economy...etc. But, it might go down if the economy was in severe recession and had high unemployment and non-existing growth in the overall economy...etc.
