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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="vipergts281" data-source="post: 4671841" data-attributes="member: 10912"><p>Here we go again.</p><p></p><p>Welcome to the real world. Borrowing money, especially for a mortgage is NOT a stupid thing to do. As already stated, use the extra money you would save by going with the 30 year and put it into a investment that pays more than 6%.</p><p></p><p>Not too mention if an emergency comes up and he needs some extra cash, if he goes with the 30 year, he is then not stuck HAVING to pay the 15 year payment. In the meantime, he can take the 30 year and just pay more toward principal every month. Hell, just buying doing bi-weekly payments will cut a 30 year down to around 23-24 years.</p><p></p><p>You seem so gung ho on NEVER financing. If we all made millions a year, then sure, pay cash for everything. But we don't. So financing allows people to buy a $500,000 a house and a $50,000 car. Gee, what fools they must be to finance them. <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite11" alt=":rolleyes:" title="Roll Eyes :rolleyes:" loading="lazy" data-shortname=":rolleyes:" /></p></blockquote><p></p>
[QUOTE="vipergts281, post: 4671841, member: 10912"] Here we go again. Welcome to the real world. Borrowing money, especially for a mortgage is NOT a stupid thing to do. As already stated, use the extra money you would save by going with the 30 year and put it into a investment that pays more than 6%. Not too mention if an emergency comes up and he needs some extra cash, if he goes with the 30 year, he is then not stuck HAVING to pay the 15 year payment. In the meantime, he can take the 30 year and just pay more toward principal every month. Hell, just buying doing bi-weekly payments will cut a 30 year down to around 23-24 years. You seem so gung ho on NEVER financing. If we all made millions a year, then sure, pay cash for everything. But we don't. So financing allows people to buy a $500,000 a house and a $50,000 car. Gee, what fools they must be to finance them. :rolleyes: [/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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