re: Still on the Learning Curve - 30 year mortgage better than 15 year mortgage?

Sure to the 3% thats disciplined and maybe whose loans are under 100k for a 30yr

15yr fix is the best loan but the payment scares everyone

The states we do business in are high loan amounts so the numbers are crazy on 250k and up.

My favorite (as im ranting now) is the borrower who ONLY wants a 30yr fix

Questions I ask

What did you buy the house for? Answer:100k

What do you owe now? Answer: 225k

Value of home? Answer:500k

Have you stayed in a home loan longer than 7yrs? Answer: No

What is the goal with the refi? Take 25k cash out for whatever keep payment the same or lower payment and 30yr Fix ONLY

What about the Option Arm? I would NEVER do a loan where I would add to the balance of my loan!!!

But you bought the home for 100k and after this refi you will owe 250k you've only done 30yr fixes and you don't like loans that add to the principle?