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re: Wife and I just locked in our first mortgage....
Posted on 1/28/20 at 9:28 am to gobuxgo5
Posted on 1/28/20 at 9:28 am to gobuxgo5
quote:
My biggest Regret was a 30 over 15. Not going to lie to appease. Go look at the amortization.
Nothing stopping you from paying off a 30 year in 15. But you can't pay off a 15 in 30. All depends on your discipline of course, but the 30 has the benefit of giving you more liquidity and flexibility if you fall on hard times. And as others have said, OP said this is his first mortgage, which may mean he's fresh out of school. Most people in that demographic need the flexibility right out the gate. Everybody's situation is different...just because 15 was right for you doesn't mean it's right for another.
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