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re: I’m surprised to see so many advocating for 15 year mortgages on here
Posted on 3/6/20 at 6:12 pm to tigersfan1989
Posted on 3/6/20 at 6:12 pm to tigersfan1989
quote:
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.
Can’t you do a 10? And yes you’re definitely on point about not starting over on a 30 year...don’t know why anyone would ever do this. Don’t care how much cheaper the monthly is..
2
Posted on 3/6/20 at 6:31 pm to Roberteaux
quote:
don’t know why anyone would ever do this. Don’t care how much cheaper the monthly is..
I’m leaning towards a 30 over a 15 on a refinance even though I’m pretty sure I could swing the 15. With rates this low, I figure with even with modest stock market returns I’ll be better off in the long run investing my savings from the cheaper mortgage payment.
This post was edited on 3/6/20 at 6:35 pm
Posted on 3/6/20 at 7:57 pm to Roberteaux
I'm not looking to increase our payments too much. I'm not in a huge rush to pay it off faster i just saw the opportunity in paying less in interest. I've been investing my extra so I'd rather keep that going then accelerate my house loan.
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