15 year mortgage and 30 year mortgage compared
If you purchase a home for $165k at 5% interest, what would the monthly payments be for a 15 year mortgage and for a 30 year mortgage?
Which mortgage would you choose and why?
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15 years: monthly payment of $1,304.81
30 years: monthly payment of $1,084.01
It ...
Solution Summary
It depends on what your goals are as to which mortgage you would choose. .........
$2.49