Posted on: 23rd Apr, 2014 06:29 am
I am going to buy a new house next month, I am pre-approved & inspections are done. Now which FRM option I choose? is it 30 yrs or 15 yrs?
If you can afford to comfortably make the payments on a 15 year loan you will save thousands over the 30.. If you are unsure of making the payment every month you could always go with the 30 year term and add to the payments every month - this wil shorten the length of your loan and still allow you the option to make the smaller 30 year payment if the need ever arises where you dont want to make the larger paymentrs.......
Let us know if there is anything else we can help with
Brian Barnes
ENG Lending
Nationwide Lender
Let us know if there is anything else we can help with
Brian Barnes
ENG Lending
Nationwide Lender