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re: I’m surprised to see so many advocating for 15 year mortgages on here
Posted on 3/8/20 at 12:58 pm to mctiger1985
Posted on 3/8/20 at 12:58 pm to mctiger1985
quote:
I'm close to your situation, and a 20 year at 3% barely increases my monthly payment, but significantly kills the interest.
Same situation here. My monthly payment barely ticks up at a 20 year, but will knock off almost a decade of payments. Plan to put extra principal and pay it off in 15 or less
0
Posted on 3/8/20 at 9:07 pm to OleWarSkuleAlum
2007 and 2008 said hello.
Don’t ever gamble with your house.
Don’t ever gamble with your house.
Posted on 3/9/20 at 8:43 am to OleWarSkuleAlum
quote:
The opportunity costs are way too high when you can have a 30 year.
I would much rather have a 15 yr mortgage than a 30 year. I only want to be in debt 15 years not 30 years. If you want to be in debt 30 years thats on you.
Posted on 3/9/20 at 8:46 am to Double Oh
quote:
I would much rather have a 15 yr mortgage than a 30 year. I only want to be in debt 15 years not 30 years
I sure hope you don't have any retirement, brockerage and savings accounts? You better be putting every dollar you have to that mortgage to get debt free. So you recommend cashing in all of my investment accounts to pay off my mortgage so I can be debt free?
Posted on 3/9/20 at 10:23 am to C
You’re right. But the market has done 11.33% average over the last 30 years. I’m pretty comfortable and aggressive shooting for 9. The break even is about 6 which I feel long term I’m comfortable with taking the bet to beat.
Posted on 3/17/20 at 1:57 pm to lsu13lsu
quote:
When the virus wipes out 30-40% of market due to a recession people may wish they had used excessive funds to pay down mortgage.
Uh no. I would wish I had the cash to put in to the market rather then tie it up in the house where I can’t eat the bricks or Sheetrock.
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