When you have a fixed rate mortgage, your principal and interest payment stays the same over the life of the loan. Due to inflation, the cost of living increases every year, so most people get a raise every year to make up for that. As a result, the gap between your income and the house payment gets larger over time, making your house payment more affordable. Want yo chart your own journey? Download the free app at http://www.ManifestHomeOwnership.com.
