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re: Down payment on a home - how much is too much?
Posted on 2/22/13 at 4:46 pm to Powerman
Posted on 2/22/13 at 4:46 pm to Powerman
quote:you can. What they're referring to is if you get into a financial bind and can't make the 15-yr note payments which are higher. They're saying take a 30-yr note, then pay it as if its a 15, but allowing yourself the ability to pull back if you get in a crunch. If you can pay even extra on top of the 15-yr note, more power to you.
I've heard some people say that you should always go with the 30 year because you can pay off early if you want Can you not pay off the 15 year?
1
Posted on 2/23/13 at 7:47 am to NaturalBeam
quote:
you can. What they're referring to is if you get into a financial bind and can't make the 15-yr note payments which are higher. They're saying take a 30-yr note, then pay it as if its a 15, but allowing yourself the ability to pull back if you get in a crunch. If you can pay even extra on top of the 15-yr note, more power to you.
This makes sense
I'm a single guy so I'm not planning on a huge house with a huge note
I'm hoping to have my note be about half of one week net pay
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