Quote:
Originally Posted by red-beard
They are doing 15 year mortgages at 3.0-3.25%. We are getting ready to pull the trigger. My monthly payment will go up, $50 or so, and we'll cut 11 years off the mortgage.
And THEN we can start paying the thing faster...
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I just did that in excel, wow. Sure cut's a lot of time out and you only bumps your payment up a little.
How common is a 15 year fixed? It seems that 30 year fixed is the norm?