2021 Jan 13, 6:02pm
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15 year loan, so you’re not paying an assload of interest to the banks/lender.
ForcedTQ says15 year loan, so you’re not paying an assload of interest to the banks/lender.This is one area I'll disagree. 30 year is more advantageous. I get most won't make the extra principle payment, but it's not too difficult to make a 30 a 15 year by making additional principle payments. If shit gets rough you can just pay the minimum payment on a 30 year and then start up the bigger payments as you get back on your feet. The problem is when people get a 30 to max out their borrowing amount. Which is what most will do. I'd also like to see people close to 20% home debt to income. 25% Isn't bad, but pretty much fool proof starts at 20% or lower. I'm at 7.2% and don't lose an ounce of sleep at night over my living situation. My wife and I could work at Home Depot and Crate and Barrel and easy pay our mortgage. Fortunately we don't have to.
if you call a number on yelp search results, its some fucking reseller middle man every time.
This is one area I'll disagree. 30 year is more advantageous
When you are as old as some of us are, a longer term mortgage probably is advantageous, as in the mortgage will outlive is.
zzyzzx saysWhen you are as old as some of us are, a longer term mortgage probably is advantageous, as in the mortgage will outlive is.One who dies with the most debt - wins bigly!
I also don’t understand all the 15yr loan hype. Life is unpredictable, get the 30yr and if you choose, pay it off as a 15yr (or a 10yr, or whatever duration you want) Fuck the tiny interest rate difference between the two.