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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]Something else to consider might be a 7 yr ARM, and pay the payment amount of the 15 yr mortgage. What that would give you is a lower MINIMUM monthly payment in case you end up needing the flexibility. You just need to either really move in 7 yrs, or be prepared some other way for a big increase in the mortgage payment (which wouldn't be that big if you've prepaid using the 15 yr payment amount). Be aware that many of the tax reform proposals suggest lowering the mortgage interest deduction, particularly for high income tax returners. [/quote]
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