I had the same option and I chose a 15 year loan so I would force myself to pay

Oct 22, 2020
10:13:22pm

sortsol 3rd String

the loan in 15 years. I would never have the discipline if I had chosen the 30 year loan. The financial experts on the board will tell you to do 30 and invest the rest. That's probably the correct choice.

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sortsol

Bio page: sortsol
Joined: Feb 17, 2007
Last login: Apr 28, 2024
Total posts: 690 (0 FO)

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Messages

Author

Time

possible dumb question regarding Mortgage Loan calculations (30 vs 25 or 20 yr)

byu1

10/22/20 10:09pm

Yes, given the rate is the same. There is no reason to refi to shorten the term unless you’re

Pimpin4Paradise

10/22/20 10:11pm

I had the same option and I chose a 15 year loan so I would force myself to pay

sortsol

10/22/20 10:13pm

I like the idea of paying extra to pay it off sooner. This also

Superman21

10/22/20 10:16pm

Agreed. I have thought about refinancing to a 30 for the flexibility of paying

sortsol

10/22/20 10:23pm

You can do a loan for 25 yrs

Cougarite

10/22/20 10:16pm

Yes. Anything less then 30 years makes no sense.

allcoug

10/22/20 10:19pm

RE: possible dumb question regarding Mortgage Loan calculations (30 vs 25 or 20

FT487

10/22/20 10:28pm

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