Quote:
Originally Posted by e30kawi
To the op, I wish someone would have gave me this advice when I first bought my home, but go for the 15 year note if you can swing it. That 30 year mortgage is a scam. We refinanced to a 15 year note a couple years ago, what a difference it made every month. Actually closing on our second refinance this Saturday.
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Disagree. It’s a lot of interest if you actually take 30 years to pay off mortgage but we’ve always got longest car loan for very low rate to have flexibility in case something happens so you aren’t locked into large mandatory monthly payments, same with mortgage philosophy. We’ve often paid off cars in 6 months to year but finance longer. You can pay off the 30 year mortgage in 15 on your own and pay same rate.