FadewayThrow OP t1_iug8b8p wrote on October 31, 2022 at 2:08 AM

Reply to comment by Zootallurs in [UPDATE] Am I screwing myself by taking a job in a high cost of living (HCOL) area? I’ll be closer to family but the current housing market will consume most of the pay difference by FadewayThrow

Total cost of a 30y with APR of 6.7% would be $1,192,430. Monthly payments of $3,065

Total cost of a 15y with APR of 5.8% would be $854,820. Monthly payments of $3,835.

And we would be debt free in 15y vs 30y. Idk $800 a month seems worth it to me

bqw371_ t1_iuhf9uv wrote on October 31, 2022 at 11:00 AM

You can always take the 30 year loan and pay extra on the principal. You could essentially make the payments as if it were the 15 year loan terms but hold back that $800 per month if you want for vacation or Christmas time.