Determine A 15 vs 30 Year Mortgage
August 30th, 2009
When you purchase a home, you’ll have the option to get a 15 year or a 30 year mortgage. If you opt for the 30 year mortgage (like most people do) you will end up pay thousands, if not hundreds of thousands, of dollars in interest alone. A 15 vs 30 year mortgage will help you save money on interest; however, a lot of people cannot afford the higher payments that come with a 15 year mortgage. The best advice is to take a look at your finances and determine what you can afford right now. Each person’s situation will be different.
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