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Message
re: First Mortgage Question - 15yr vs 30yr vs. Investing "Extra Payments"
Posted on 10/11/17 at 5:55 pm to HardHat
Posted on 10/11/17 at 5:55 pm to HardHat
Lock in the low payments with the 30 yr.
If you can throw the extra money to principal do it. You can still pay it off in 15 years if you want to, but don’t lock yourself into high monthly payments. Life tends to happen.
If you can throw the extra money to principal do it. You can still pay it off in 15 years if you want to, but don’t lock yourself into high monthly payments. Life tends to happen.
1
Posted on 10/11/17 at 6:02 pm to pwejr88
quote:
don’t lock yourself into high monthly payments.
I agree in principle, but there is nothing to say that a 15year mortgage payment has to be "high". Purchase conservatively and your 15yr payment won't be a burden.
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