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SVTPerformance's Chain of Restaurants
Road Side Pub
15-year fixed vs 30 year fixed for $80,000 mortgage.
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<blockquote data-quote="dtheo" data-source="post: 4667206" data-attributes="member: 43146"><p>Being that this kid is still in college and probably has some good amount of debt, a 15 year note has a much higher payment where as if you got a 30 year note and made the same payments as a 15 year payment, he could have the flexibility of paying it off in 15 years or 30 years. The point is, being he is a young guy, pulling the trigger on a 15year mortgage could backfire if money gets tight. I'd say be safe and get the lower payment 30 year. He won't be in this house more than 6 years if that.</p></blockquote><p></p>
[QUOTE="dtheo, post: 4667206, member: 43146"] Being that this kid is still in college and probably has some good amount of debt, a 15 year note has a much higher payment where as if you got a 30 year note and made the same payments as a 15 year payment, he could have the flexibility of paying it off in 15 years or 30 years. The point is, being he is a young guy, pulling the trigger on a 15year mortgage could backfire if money gets tight. I'd say be safe and get the lower payment 30 year. He won't be in this house more than 6 years if that. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
15-year fixed vs 30 year fixed for $80,000 mortgage.
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