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Reply to "15 vs 30 years mortgage"
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[quote=Anonymous]As a PP mentioned, you can run payment calculators (or do it in Excel if you are able to) to calculate the difference. We went from a 30 year at 4.25% to 15 year at 3% and the difference in interest paid over the life of the loan was around 120-130K on a 250K loan amount (rough numbers, don't remember the exact difference but it was definitely six figures).[/quote]
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