MitsuStyle - View Single Post - Refinance

**Halon** · 08-19-2013

If you can swing a 15 year go for it. You'll pay it off sooner, and get a slightly better rate than with a 30yr.

We thought about it but ended up getting a 30 year. We plan to pay extra every month so we pay it off sooner than 30. We tend to plan for the worst so we decided we liked the lower required monthly payment a 30yr offers, just in case we were to lose our jobs or something, then the amount we "have to pay" is less than a 15yr. But when times are OK, we will pay extra.

08-19-2013	#27
Halon Pewp Champion Join Date: Nov 2003 Location: Blaine Drives: Teh Bean Posts: 12,309	Re: Refinance - ARM? Thoughts.... If you can swing a 15 year go for it. You'll pay it off sooner, and get a slightly better rate than with a 30yr. We thought about it but ended up getting a 30 year. We plan to pay extra every month so we pay it off sooner than 30. We tend to plan for the worst so we decided we liked the lower required monthly payment a 30yr offers, just in case we were to lose our jobs or something, then the amount we "have to pay" is less than a 15yr. But when times are OK, we will pay extra. __________________ B-Man - FlexFuel Mafia 1991 TSi AWD E85 - BEP S362, DSMLink V2, Built 2.0L Idle Vid 628hp Graph 541hp Vid 10.93@137 Vid 1992 SC300 E85 - BW 84-75, Vlad Infinity, NA-T, 6spd Idle Vid 709hp Graph 709hp Vid 11.1@131 Vid 2006 Bayliner 195 - Carbed 5.0 Top Speed Test