All Forum Posts by: Johnny Manziel

You want to get a 30 year loan to lower your monthly debt to income ratio. You can pay extra each month if you have discipline. What if you lose your job or something happens? You have less flexibility with a 15 year. You can always refinance if it helps you sleep at night. But the interest difference in a 15 vs 30 year mortgage is less than 1% if you have good credit. 

CORRECT ANSWER: Get a 30 year. Pay it like a 15 or as much as you can comfortably. You shouldn't be in real estate if you aren't highly disciplined with your money to pay extra each month.

 Its the laws of the loan - it must be owner occupied. She is asking for help not if you need exercise.