February 20th, 2012
February 20th, 2012
Get A 15 Year Mortgage Instead Of A 30 Year?
Many people ask about 15 year mortgages. Some people ask about a 15 year mortgage in relation to refinancing. They figure with lower rates maybe they can afford a 15 year loan instead of a 30 year loan. And some people inquire about a 15 year loan when buying a home, because they want to pay off debt faster. But the monthly payments are quite a bit higher on a 15 year loan. Although you can save a lot of money over the long haul, you really have to decide what you can afford, and if cash flow is more important than building equity.
