- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: First Mortgage Question - 15yr vs 30yr vs. Investing "Extra Payments"
Posted on 10/11/17 at 6:21 pm to dragginass
Posted on 10/11/17 at 6:21 pm to dragginass
quote:
Purchase conservatively and your 15yr payment won't be a burden.
I agree with you, but is the 15 year the smart play?
Is it better to have all your money tied up in equity at year 15, or have half of the money in equity and the other half in a separate account that you have control over?
2
Posted on 10/12/17 at 8:19 am to HardHat
You may be overthinking this.
If it is your first mortgage, chances are you won't be in the house year 15 or year 30. I think the situations you bring up are reasonable but in my opinion are unrealistic and irrelevant considering my previous sentence.
I could be completely wrong and you live in this house the rest of your life. I would go 30 and invest the difference. You can always refi to a 15 later on.
If it is your first mortgage, chances are you won't be in the house year 15 or year 30. I think the situations you bring up are reasonable but in my opinion are unrealistic and irrelevant considering my previous sentence.
I could be completely wrong and you live in this house the rest of your life. I would go 30 and invest the difference. You can always refi to a 15 later on.
Posted on 10/12/17 at 9:33 pm to HardHat
quote:
I agree with you, but is the 15 year the smart play?
Is it better to have all your money tied up in equity at year 15, or have half of the money in equity and the other half in a separate account that you have control over?
My last 2 houses have been on 15year mortgages. As others have said, you likely won't be in the house that long anyway. When you move or refinance your equity comes out, and you have a choice of what to re-invest. The numbers are close either way. You're still hung up on the 15 year being suffocating though. Buy what you can afford, either way, and you'll comfortably live and have other investments.
I'm admittedly debt-averse, because no true Tigerdroppings baller has a massive mortgage to support their side investments.....
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News