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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The safe choice would be to take the 30 year mortgage and pay extra each month as if it is a 15 year fixed.  There will be months when you need the extra money for other purposes so you won't be tied to the higher monthly payment.[/quote]

This. We do something similar. However we allocate money at the end of the year. We live on the basics each month and dump all extra in cash savings. On Dec 15th we then allocate what is left between the 529, roth, market investments, what we want to keep on cash and the remainder goes to the mortgage. Sometimes we have 25k at the end of the year, sometimes we have 75k. [/quote]

Amazing to me that most people believe that a 30 year loan MUST be paid off in 30 years, or that a refi necessarily pushes your payoff date out by another 30 or 15 years.  There are million mortgage calculators on the web - plug in your desired payoff period and it will tell you exactly how much extra to pay each month to make a 30 year loan a 25 year loan, for example.  This is not that hard.

Also, you can try the biweekly payments approach, which pays off a loan 5 years early with almost no perceptible change in payments.  [/quote]

Right, but some of us want to keep our extra money in the market. I've been making consistenely 9.5%/yr on my investments. I purchased my home 10 years ago. Between now and then, I've taken 125k and it has grown to 310k. I even did 10% down at the time, which was the minimum down payment required  to hold onto cash. Completely separate from that initial investment, I put extra cash, outside my emergency reserves each uear into more funds. Im in an exponentially better place NOT using money that is earning money to pay doen a chreap loan. Whatbis amazing to me, is that people even bother paying down a mortgage when there is free money to be had. My annual gains from investments now exceed my annual mortgage payments. Had I paid down my loans instead, I would be worse off for it. I also not even high income, but I've realized that the only way to wealth is through investments because my paycheck won't get me there. [/quote]

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