15-Year Mortgage vs. 30-Year Mortgage (The Real Cost)

15-Year Mortgage vs. 30-Year Mortgage (The Real Cost)

Find Investor-Friendly Lenders:

Join BiggerPockets for FREE 👇

Master the Formulas Behind Real Estate Investing with “Real Estate by the Numbers”:

Find an Investor-Friendly Agent in Your Area:

Learn from the Best Investors at BPCON2024 in Cancun!

What’s Better for Investors—a 15-Year or 30-Year Mortgage?

Connect with Hannah:

The 15-year mortgage vs. 30-year mortgage—which will save you (or make you) more money in the long run? First-time homebuyers and rookie real estate investors commonly have this debate. Do you pay more every month for a shorter loan but save on interest, OR have a lower, longer monthly mortgage payment and potentially make more cash flow? Instead of hypothesizing which mortgage makes more sense, we’re doing the math with TODAY’s interest rates on a $500,000 house.

Licensed mortgage advisor Hannah Escher does all the calculations for us, pitting a 30-year fixed-rate mortgage against a 15-year fixed-rate mortgage to see the ACTUAL monthly cost and interest rate differences between the two. If you have the option to get either of these loans on your next home purchase, make SURE you review the pros and cons from today’s video. Not doing so could cost you hundreds of thousands of dollars!

00:00 5-Year Mortgage vs. 30-Year Mortgage
01:54 Monthly Payment Differences
02:59 30-Year Fixed Loan
05:53 15-Year Fixed Loan
07:42 Why Doesn’t Everyone Do THIS?
08:31 How to Decide
10:42 Pros and Cons

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top