re: How much to put down on a home? (more than 20%?)

quote:

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Yes, every evening when I walk out my front door, cross the street, and onto my clubs 156 yard par 3, I think about how enslaved I am for the next 30 years at 3.625% no less.

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I'm sure that fits your expectations now, but in 10 years, my house will be paid off - and the current mortage payment will be staying in my bank account. After those same 10 years, I don't think you'll even be to the point where you're paying more principal than interest every month.

A/B analysis of 2 $400,000 loans tells me that, even at 3.5% APR for both of them, the 15-year I pay $132k less interest than I would on the 30-year.

Sure, most people don't hold the 30-year loans to term - and that cheaper payment now means more money in my pocket now.

However, plans change and it's just tough for me to pay, in extra interest, enough money to buy an okay home where I live.