A Mortgage Payment Strategy You’ve Never Heard Before- Season 2: Episode 11
When taking out a mortgage, people often wonder if it’s better to have a 15-year loan instead of a 30-year loan. They think of all the interest payments they’ll save by shortening the loan period, and the fact that the home would be owned free and clear in half the time.
Of course, they have to be able to afford the higher payments of a 15-year loan, which for some people is a deal-breaker. But there may be a way for you to take the 30-year loan option and still be free of mortgage payments in 15 years. On today’s podcast, we talk about a strategy to do exactly that.
We’ll also give you an explanation of the $1,200 stimulus check, dispelling common rumors that it will have to be paid back next year, and answer an email about paying cash for a home versus having a mortgage and investing the difference. Join hosts Johnny Dean and Rick “The Professor” Plum, CFP® for this week’s edition of Managing Your Financial Future!