Mortgages: 30-year or 15-year?
Posted by admin in Real Estate
11Oct
© sfadden
Get Rich Slowly ran a piece late last month that compared 15-year and 30-year mortgages.
The fairly lengthy blog post is based on the personal experience of one of GRS’s staff writers. It looks at monthly payments and at total interest on a $160,000 home. Among other things, they do the math on taking a 30-year mortgage and then paying it off in 15 years.
The piece looks at more than just the math, because financial decisions are usually complicated. How much risk can you take on? How disciplined are you? What other financial demands to you face. What are you comfortable with.
If you’re at a point where you’re considering buyng a home, the piece provides a pretty complete look at the issues.
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