With sub 4% interest rates, if you do buy go 30. Historic 7-8%, the case can be made for 15. This is the cheapest money we'll ever see in our life time History would suggest. Why anyone would not want an extra 15 years to invest, especially considering the last five years going from 6600 to 14500 in the market, not to mention tax incentives, is silly to me. And there is a 90% chance you won't stay in this house anyways, why tie up all your money in an investment your 90% likely to walk away from.
Take the cheap money longer, play the swings over 30 vs 15 years with sub 4% $.
This post was edited on 3/19 at 2:55 pm