Should I do a 15 year mortgage?

Published 6 months ago

When thinking about the differences between a 30 year mortgage and a 15 year mortgage, are you looking at all the differences? Are you diversified? Are you thinking about all the parts of your retirement? Well this total cost analysis will show you the difference between the two and what you might be giving up by forcing yourself to pay your home off faster. Remember, the home appreciates in value at the same rate regardless of your monthly outgo. So, if you can use other people's money to make your money go farther, it is likely a better bet to take that extra money and invest in your other retirement assets.

Disclaimer: I am not a financial analyst but these parameters for this example are pretty accurate for the day this was put out and the spreads are fairly consistent with the fluctuation in rates.