I read a great post today from a local Seattle lender that I wanted to share with you. It’s talking about the pro’s & con’s taking out a 20 yr, 15 yr or 10 yr mortgage. It has good tips to consider and other ways to pay-down a mortgage early without getting into a cash-flow concern. As Rhonda Porter is finding out in the mortgage business and I in the real estate business, people in general are becoming more prudent on their mortgage amount by determining how much house can they buy with a specific $$ house payment, i.e., in other-words, backing into the house affordability number by starting with a comfortable house payment.
Learn more about whether you should Payoff Your Mortgage Quicker vs a shorter-term mortgage. Mortgage interest rates are still at record lows.