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Updated about 8 years ago on . Most recent reply

User Stats

70
Posts
36
Votes
Peter G.
  • Real Estate Investor
  • OKC
36
Votes |
70
Posts

15 year mortgage or 30 year?!?

Peter G.
  • Real Estate Investor
  • OKC
Posted

I am new to this financing world and would love to get your alls options on the pluses and minuses of 15 yr and 30 year mortgages. 

Most Popular Reply

User Stats

17,430
Posts
30,077
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,077
Votes |
17,430
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

I always think it's a better idea to get a 30. Nothing will stop you paying it off in 15 if you choose. But having the lower payment the 30 affords you gives you much more flexibility for when life's circumstances change like if you get laid off, have vacancies, get hit by a car and can't work etc.

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