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Message
I’m surprised to see so many advocating for 15 year mortgages on here
Posted on 3/6/20 at 3:52 pm
Posted on 3/6/20 at 3:52 pm
The opportunity costs are way too high when you can have a 30 year.
This post was edited on 3/6/20 at 3:53 pm
12
Posted on 3/6/20 at 4:44 pm to OleWarSkuleAlum
20 is better. More flexibility from the 15 and saving a lot from the 30 year
Posted on 3/6/20 at 4:50 pm to OleWarSkuleAlum
Posted on 3/6/20 at 4:56 pm to OleWarSkuleAlum
Finally one thing you’re not completely wrong about.
Posted on 3/6/20 at 5:40 pm to OleWarSkuleAlum
I'm planning a 15 on my upcoming mortgage. I had a 15 on my last mortgage, paid it off in 8, of course that was at 5.25%.
I'm really torn right now. This is my retirement home, so I really don't want to do a 30, but I think if you pay the 15yr rate, you will pay off in about the same amount of time, with just a little more interest.
I'm really torn right now. This is my retirement home, so I really don't want to do a 30, but I think if you pay the 15yr rate, you will pay off in about the same amount of time, with just a little more interest.
Posted on 3/6/20 at 5:49 pm to OleWarSkuleAlum
I started with a 30 yr mortgage and currenlty am fairly close to having a 15 year payout anyways I am refinancing and my rate will be more than 1% lower with the 15 year. That's really the only reason i'm refinancing. I agree though I think its best to start out with a 30 year. I didn't feel like recasting my exisiting 15 year payout to another 30 years.
Posted on 3/6/20 at 6:34 pm to OleWarSkuleAlum
Can you break down the opportunity and the $ figures please?
Posted on 3/6/20 at 7:13 pm to OleWarSkuleAlum
I’d imagine the overwhelming majority of the general population would not invest the difference.
This post was edited on 3/6/20 at 7:22 pm
Posted on 3/6/20 at 7:14 pm to OleWarSkuleAlum
Im doing a 20.
We have been in our house for 10 years, probably will be here for at least the next few years.
Dropped our rate from 5% to 3.125%.
We have been in our house for 10 years, probably will be here for at least the next few years.
Dropped our rate from 5% to 3.125%.
Posted on 3/7/20 at 7:20 am to OleWarSkuleAlum
I’m 6yrs in on my 30yr @ 4.2%
If I’m able to refi a 15yr @ 2.75% - 3.25% I’ll be doing so ASAP.
If I’m able to refi a 15yr @ 2.75% - 3.25% I’ll be doing so ASAP.
Posted on 3/7/20 at 10:28 am to OleWarSkuleAlum
Security
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.
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