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By Craig Johnson

15-Year vs. 30-Year Mortgage: Making the Choice

No one has a crystal ball to see 15 years ahead, much less 30, but if your income is strong and stable, a larger monthly payment will get you to the finish line sooner.

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Updated July 2022Owning your home outright after just 15 years. What an appealing idea! Some of us have shirts older than 15 years. The trade-off is, of course, higher monthly payments. A home buyer considering a 15-year mortgage should make a careful assessment of income and finances.No one has a crystal ball to see 15 years ahead, much less 30, b...
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