re: First Mortgage Question - 15yr vs 30yr vs. Investing "Extra Payments"

I was I facing the same decision at your age. We went with a 30yr mtg and then paid extra with a goal of paying it off early, The economy was shaky at the time, so I wanted the peace of mind of being able to drop to the minimum payment of the 30year if one of us lost our job or the like.

Rates dropped down the road, we refinanced to a 15, and paid it all off in a total of about 13. It worked well, especially since we stayed in the house. As someone else said, if you plan to move on or up in a few years, don’t bust your arse on payments,