Cubic Zirconia_IHB
New member
With the interest rates going down, I have a question for you guys.
Had we bought at 6.5% interest rate for a 417k loan, the monthly payment would have been 2600.
At 4.5% (wishful thinking rate for 30 yr fixed), the monthly would be 2100.
If 30 yr is 4.5, 15 yr loan would be 4.1 (?), the monthly would be 3000, which we can afford to pay.
What are the pros and cons of going a 15 yr in this market? Please share your views.
CZ
Had we bought at 6.5% interest rate for a 417k loan, the monthly payment would have been 2600.
At 4.5% (wishful thinking rate for 30 yr fixed), the monthly would be 2100.
If 30 yr is 4.5, 15 yr loan would be 4.1 (?), the monthly would be 3000, which we can afford to pay.
What are the pros and cons of going a 15 yr in this market? Please share your views.
CZ