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Picked a 15 year fixed instead of 30 year for my first house in Tucson
I was looking at a 30 year at 6.8% and a 15 year at 5.9% on a $220k place. Went with the 15 because I wanted to save $40k in interest over the long run. Anyone else choose a shorter term and regret the higher monthly payment?
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paige_ellis5914d ago
What's your monthly payment difference looking like?
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the_phoenix1d ago
@paige_ellis59, the payments are about $350 more each month, which stings a bit. It's funny how quick we are to lock into a 30-year without thinking about what that extra decade of payments really means for our freedom later on. Saving that $40k is nice, but I like how it forces me to live on a tighter budget right now instead of drifting into lifestyle creep.
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