15 YEAR VS 30 YEAR MORTGAGE
In my humble opinion, I prefer the 15 year mortgage because I’d rather have the peace of mind of not owning anybody anything. However, the other side to that coin is that if you opt for the 30 year mortgage, you will have lower payments, which will allow you to invest more money over those 30 years…if you’re disciplined enough to stick with it.
If you invest $676 every month (the difference in payment between a 15 and 30 year mortgage) you will amazed at the amount of money you will make in the market.
Keep reading below to see a summarized outline of the video:
15 Year Mortgage Pros
– Lower interest rate (typically .25% to 1% lower than a 30 year)
– Faster pay off time period
– Build equity faster
15 Year Mortgage Cons
– Higher Monthly Payment
30 Year Mortgage Pros
– Lower Payment (buy more house than you can afford)
– Able to invest the extra money per month
30 Year Mortgage Cons
– Slower pay off time period
– Slower equity build due to slow principal pay down
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My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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