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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Take out a 30Y and pay down extra principal every month (akin to a 20Y loan).

This gives you extra breathing room in case you ever need to pay the minimum due to job loss, a serious illness, etc. Plus you'll reduce your lifetime interest expense at these awful rates.[/quote]

Good lord.  Lemme guess, you're younger than 40?  [/quote]

Huh? I'm not the PP, but I've also heard and read this same advice from multiple sources and it makes logical sense. Get the 30, pay extra on the principal with each payment.[/quote]

Sorry - I meant to bold "awful interest rates" - anyone who thinks these rates are "awful" has limited experience/historical perspective.  [/quote]

Classic boomer phrase. Yes, rates were substantially higher in the 70s, but the cost of ownership is multiples (inflation adjusted) of what it was, even with rates 2x.

Rates aren't everything. So to the PP, I apologize on behalf of all boomers who are too stubborn to realize that even with their higher rates, their financial lives were the easiest in generations.[/quote]

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