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Real Estate
Reply to "Finance people: Help me figure out if a 30 year or 15 year mortgage makes more sense"
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[quote=Anonymous]The rate savings between the two is 1%, so for a 1% savings, you tie up X$ more per month. The key for me is, what are you otherwise planning to do with this money and would you earn more than that differential? For example DH and I just put 10% down on a house instead of 20% because I felt leaving my 10% extra in the market would earn more of a return than the rate savings I got from a larger downpayment. Its very individual - if you feel like you would waste the money otherwise, than I would go for the 15. If you would invest it the extra cash flow each month, I might go for the 30 personally.[/quote]
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