So, I understand that a 15yr mortgage will generally have a lower interest rate than a 30 yr mortgage, but the monthly payments are much higher. Granted, if you have plenty of money to pay a higher monthly payment, would it be better to get the 15 yr mortgage because you’ll pay less over the long run? Or is it better to get a 30 yr mortgage with lower payments, but then put your extra cash into savings which could yield much more earnings with a generally higher interest rate earned? Also, which choice would be better if you were only planning to live in the house for 5-10 years? I hope these questions make sense.
Submitted October 13, 2018 at 06:31PM by DrSweetPea27 https://ift.tt/2pNPejQ
