on your mortgage. I wouldn't do a 15 year. The interest savings is fairly minimal (in comparison to the opportunity cost of doing other things with the money) and it's better to have the flexibility of a lower, 30-year payment in case of difficult financial times. You never know when you or a family member will have a health or personal problem put you in a difficult situation that makes the 15 year payments too steep. I've seen several people pushed to the brink of bankruptcy by being too aggressive on 15-year mortgages when they didn't need to be.