Would a 15 year mortgage be a bad idea right now?

I’m thinking of buying around the Fall. I could afford a 15 year mortgage if I wanted to for the sake of a better rate, however, I’m wondering if just sticking with a 30 year would make more sense in my situation.

Whatever place I get would be a starter home for 3-5 years before buying something else and either selling / renting this one. However, considering how prices have gone up, I can’t help but think it would be a bad idea to pour so much principal into a place that could see a price correction when instead I could just stick to 30 year and invest my extra cash into indexes over time. The only reason I’m thinking of 15 year is for the sake of a better rate.

Obviously no one has a crystal ball but curious for anyones thoughts.

submitted by /u/Jellybongus
[link] [comments]

I’m thinking of buying around the Fall. I could afford a 15 year mortgage if I wanted to for the sake of a better rate, however, I’m wondering if just sticking with a 30 year would make more sense in my situation. Whatever place I get would be a starter home for 3-5 years before buying something else and either selling / renting this one. However, considering how prices have gone up, I can’t help but think it would be a bad idea to pour so much principal into a place that could see a price correction when instead I could just stick to 30 year and invest my extra cash into indexes over time. The only reason I’m thinking of 15 year is for the sake of a better rate. Obviously no one has a crystal ball but curious for anyones thoughts. submitted by /u/Jellybongus [link] [comments]

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