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re: (First post) Housing related, what would you do?
Posted on 7/30/22 at 8:13 am to WITNESS23
Posted on 7/30/22 at 8:13 am to WITNESS23
quote:
maybe get a 30 year mortgage rather than 15 and you can build savings more quickly for emergencies and home improvements
And it’s likely you’ll be refinancing as soon as rates drop significantly anyway so you can be building back up while you wait.
1
Posted on 7/30/22 at 8:30 am to UpstairsComputer
I like option A on a 30 year instead of a 15.
You can always choose to pay a 30 year early but you can't pay your 15 year late. A 15 year is basically forcing you to put extra money into equity each month, but chances are in any given month that's not the best use for that extra money.
You can always choose to pay a 30 year early but you can't pay your 15 year late. A 15 year is basically forcing you to put extra money into equity each month, but chances are in any given month that's not the best use for that extra money.
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