Our $790k mortgage becomes $690 at 4% which is $28.75 in payments per/year.

Let’s use rates representative of the market from ’05 to present.

At 5.5%, about where long term fixed rates bottomed out for financing, the payment on $690K is $47K a year. Taxes are $7.9K a year. Total $54.9K a year.

At 8%, the $300K mortgage is $25K and property taxes $4K. For a total of $29K a year.

Granted, $54.9K isn’t double $29K, but it’s close enough in my booked.