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Serious question, why get a 30 year mortgage?
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Date: August 23rd, 2026 9:56 AM Author: me mum died in the holly (TT6) Ive been looking for a bit and getting closer to pulling the trigger.
How do people do a 30year mortgage?
I'm debating between 1/3 to 1/2 down and getting a 30 year solely to keep the required payment non-material but I plan on paying twice the required P&I to finish it in 10 years.
I could not imagine buying a home with a 30 year loan where I need to make payments for 30 years and that payment is material enough where I cant just double it most of the time to end it quicker. |
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Date: August 23rd, 2026 10:00 AM Author: you're the puppet (I have the emotional height of an angry 6" gnome ) Lower interest on a 15 year, and rates are high rn. I dont know if you get lower interest for 50% down, so shop around.
Interest rate is most of what you pay, so it matters a lot.
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Date: August 23rd, 2026 10:05 AM Author: me mum died in the holly (TT6) 50 to 70 basis points doesnt really matter much when putting say 40% down and then making on top payments to reduce the duration.
Its like $100 a month (comparing a 15 year vs a 30 year with payments scheduled to end it in 10-15years) for the added flexibility of basically "not paying some payments" sometimes (ie just making the normal 30 year payment) |
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Date: August 23rd, 2026 10:37 AM Author: dried up stinky dick licker When rates were below 3% it made sense to just prolong it. Idk what the economics are like now. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086887) |
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Date: August 23rd, 2026 10:51 AM Author: me mum died in the holly (TT6) ya I 100% getting a 30 year if 3.5% or less. Hell even 4%
But most of those people already had 30 and then refinanced. lol @ all these americans just buying homes maxing out their finances for the next 30 years.
I guess inflation/pay raises will ease that burden in 10-15 years, but still, a decade of being locked in like that. id killself |
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Date: August 23rd, 2026 12:43 PM Author: dried up stinky dick licker wtf are you talking about? Refinancing is literally like being a renter getting to renegotiate lower rent. Taking the money you save each month via refi is more money you can invest. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50087149) |
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Date: August 23rd, 2026 12:53 PM Author: me mum died in the holly (TT6) pls reread. jesus of coursing refinancing to get a lower rate and payment is a good idea. what on earth make you think i disagree with that? jfc (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50087175) |
Date: August 23rd, 2026 9:58 AM Author: state your IQ before I engage you further Flexibility. Right now even with a high mortgage rate I can earn more in the market. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086830) |
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Date: August 23rd, 2026 10:06 AM Author: me mum died in the holly (TT6) with risk.
if i could get a treasury at 7%, id take out more loans for sure |
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Date: August 23rd, 2026 10:23 AM Author: state your IQ before I engage you further Yes investing involves "risk" but it's primarily risk of short term volatility. If ur not absolutely pouring money into equities ur NEVER gonna maek it. You don't need to go full Tommy Turdskin retardation, but recognize the ruling class will NEVER allow for a sustained downturn in equities. Inflation is HIGH and will remain HIGH, and therefore stocks will RISE. If stocks fall, Fed will CUT CUT CUT, mortgage rates will fall (at least briefly), you can refi, then stocks will BOOM again. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086860) |
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Date: August 23rd, 2026 10:48 AM Author: me mum died in the holly (TT6) ya but I also hate the idea of having to work in order to make my mortgage and other fixed cost payments. id rather just get the home paid off much quicker, still maxing 401k etc, and have the flexibility to work or not work and also not stress.
I literally have only worked a western job full time for a max of 3 years before wanting to quit and take a year off.
Plus, my current equities plus a home paid off in 10 years = more than enough to retire anyways. |
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Date: August 23rd, 2026 9:59 AM Author: Consuela it depends where you think interest rates are going. if you got a 30 year mortgage back when rates were 3% then you are golden now. if you get a 6.5% mortgage now and rates go to 12% then you'd also be golden.
but people who did a 7 or 10 year interest only loan when rates are low are now fucked when rates reset |
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Date: August 23rd, 2026 10:06 AM Author: me mum died in the holly (TT6) 3% will never happen again in our life (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086845) |
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Date: August 23rd, 2026 10:00 AM Author: Der Penis https://www.investopedia.com/articles/personal-finance/042015/comparison-30year-vs-15year-mortgage.asp
30-year allows people with low HHI to be homeowners |
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Date: August 23rd, 2026 10:07 AM Author: me mum died in the holly (TT6) yes basically this, which only pushes up the cost of housing which means they pay even more in interest and principal for the same house they could have got a 15 year mortgage if the 30 never existed.
so all these people pick 30 years cuz everyone is max striving their leverage? |
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Date: August 23rd, 2026 10:09 AM Author: Der Penis I think so, yes. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086852) |
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Date: August 23rd, 2026 10:10 AM Author: me mum died in the holly (TT6) well thank GOd and Jews for the mortgage backed security. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086853) |
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Date: August 23rd, 2026 10:02 AM It's not just a mortgage, the bank will also give you a free pen (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086836) |
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Date: August 23rd, 2026 2:45 PM Author: potluck (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50087422) |
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Date: August 23rd, 2026 10:03 AM Author: Wilbur in the Godhead (Safari) Yield maintenance fee means you do not save by paying early (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086838) |
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Date: August 23rd, 2026 10:06 AM Author: me mum died in the holly (TT6) lol what (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086846) |
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Date: August 23rd, 2026 10:36 AM Author: Wilbur in the Godhead (Safari) Just read the fine print. It is uncommon in residential according to one poster with more real estate law experience than me, so maybe not a concern for you (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086883) |
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Date: August 23rd, 2026 10:36 AM Author: Der Penis My residential mortgage has no pre-payment penalty fwiw (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086884) |
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Date: August 23rd, 2026 10:48 AM Author: me mum died in the holly (TT6) its literally illegal for residential, at least when i was working.
also fannie/freddie do not allow it so that basically means there is no market for it anyways legal or not |
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Date: August 23rd, 2026 11:01 AM Author: Wilbur in the Godhead (Safari) This is why you are a success in the legal profession and I am not -- i remember a concept from class but not the application (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086930) |
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Date: August 23rd, 2026 11:13 AM Author: me mum died in the holly (TT6) im not a faggot lawyer (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086945) |
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Date: August 23rd, 2026 10:18 AM Author: Consuela ym is uncommon on residential loans (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086857) |
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Date: August 23rd, 2026 10:24 AM Author: state your IQ before I engage you further I love xo aka autoadmit.com (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086862) |
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Date: August 23rd, 2026 10:38 AM Author: cowgod It's a hedge against getting Fired like Gen X and having No Job for 60 months versus the interest rate delta on a 15 vs. 30 year.
Also, Normal Bros just spend literally all of their money except for whatever 3.875% 401k contribution they make. |
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Date: August 23rd, 2026 10:39 AM Author: Fucking Fuckface I got a 15 yr at less than 2.4% (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086890) |
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Date: August 23rd, 2026 10:52 AM Author: me mum died in the holly (TT6) yes my statement of course excluded govt handouts. id take a govt funded 2.4% rate too for 30 years if i could (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086914) |
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Date: August 23rd, 2026 10:40 AM Author: Brussels Sprout (Apropos of the Wet Snow) with interest rates so high now, like 75 basis points more than 6 months ago, u best be an all cash buyer (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086891) |
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Date: August 23rd, 2026 10:49 AM Author: me mum died in the holly (TT6) 1/3 to 50% down depending on the homes we have looked at (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086910) |
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Date: August 23rd, 2026 10:53 AM Author: Brussels Sprout (Apropos of the Wet Snow) liquidate all your assets and buy house all cash 100%- ywia (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086916) |
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Date: August 23rd, 2026 10:55 AM Author: me mum died in the holly (TT6) no. this is without touching my equities. only my uninvested cash (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086922) |
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Date: August 23rd, 2026 10:59 AM Author: Brussels Sprout (Apropos of the Wet Snow) I'm mostly cash rich, so I intend to avoid the pangs of outrageous usury-- also, all cash buyers get offer first accepted from seller (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086925) |
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Date: August 23rd, 2026 11:00 AM Author: me mum died in the holly (TT6) ya id need to sell some stocks for that which I dont want to do. half cash seems like a good compromise for me. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086928) |
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Date: August 23rd, 2026 11:03 AM Author: Brussels Sprout (Apropos of the Wet Snow) if u really like a property- be aggressive, bid over asking, no regrets--I've lost out on too many perfect homes by playing by the rules (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086933) |
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Date: August 23rd, 2026 11:15 AM Author: me mum died in the holly (TT6) i literally never fall in love with a home, actually i only live in condos. this would be the first home and since ive lived in asia for so long, i dont even like 90% of these homes build post 2007. all big as fuck, empty opt spaces. fucking retarded. 4k sq ft for what? who has a family of 10? this is why your kids dont love u, they just go off in their each own spot.
2.5k sq feet for a family of 4-6 is plenty.
edit: I only love location. That is the 1 thing I pay a premium for and I am fine with it as that is a lifestyle and family thing. |
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Date: August 23rd, 2026 11:28 AM Author: Brussels Sprout (Apropos of the Wet Snow) I need land and privacy to build my music studio/bluegrass hut-- so different strokes. . good luck with your search (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086967) |
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Date: August 23rd, 2026 11:31 AM Author: me mum died in the holly (TT6) now its down to mostly tax issues. plenty of available homes that are finally priced "correctly" where I want to buy (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086971) |
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Date: August 23rd, 2026 10:53 AM Author: Charles Tyrwhitt Dad It's not complicated.
30 year means you pay less each month. 15 year means you pay a lot more each month. The advantage of the 15 year is that you pay less overall interest and build up equity faster. The advantage of 30 years is that it's easier on the wallet and often allows you a nicer house.
I have a 30 year mortgage and didn't think twice about it. These are why:
1. More money to direct to investments in the market to grow faster. Which it has.
2. Over a 30 year period you will see significant housing appreciation so your equity grows for free regardless of how much of the mortgage you're paying down. Between 1996 and 2026, the US average house price rose by 200% on average nationwide. Note that between 1966 and 1996, the average house price rose by 550-600% (which is something I didn't know till just now but it does add perspective to the current housing market).
People with a 30 year mortgage often find that after about 7 or so years, they're sitting pretty, with a monthly mortgage declining in real value while their incomes have increased, and housing and equity gains also going up, so the urgency to pay it off isn't there unless you're a nerd. And especially paying off the mortgage doesn't mean you're off the hock. Taxes and insurance still have to be paid and for the typical homeowner that was probably a third of the overall mortgage payment.
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Date: August 23rd, 2026 11:00 AM Author: me mum died in the holly (TT6) 1. Only makes sense if the mortgage is very small relative to your income. For example if you get a 30 year with a payment that is under 20% of your take-home so you can put more into equities, that makes sense, but I dont see it.
It seems people leverage as much as they can and then dont really impact that leverage for a decade in order to chase a bit more returns in the market.
But this is also why so Americans need to work for healthcare, which is just another LOL thing I will never understand. |
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Date: August 23rd, 2026 11:13 AM Author: Charles Tyrwhitt Dad The people who leverage as much as possible aren't taking out 15 year mortgages, so it's a moot point.
I've known no shortage of people in HCOL who maxed out their 30 year mortgages budget to get into a decent house in a decent district and just about all of them had the five or so years of money being tight then as incomes went up and inflation went up while payments remained static, they've come out ahead and are doing well. |
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Date: August 23rd, 2026 11:17 AM Author: me mum died in the holly (TT6) No. I mean 30 year mortgage folks who take it out and lock themselves for aggressive payments for the next decade. Its maddness to me.
Ya but they were also forced to work that entire period. What if they wanted to take 6 months or a year off to enjoy life? I couldnt imagine not having that flexibility just to get a bigger home. |
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Date: August 23rd, 2026 11:18 AM Author: El Pene (🧐) obviously it's just about rates. I would pay only a bit over 25% more per month on a 15 year mortgage than a 30. even when rates were 4% this was a much bigger difference (close to 50%), much less the lucky fuckers who locked down a 3.25 or below. (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086954) |
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Date: August 23rd, 2026 11:20 AM Author: me mum died in the holly (TT6) if you cant afford to pay 25% more, can you really afford the house? (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50086957) |
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Date: August 23rd, 2026 3:30 PM Author: Rickys' Cat some people cant afford anything more per month. its all about the monthly payment while fulfilling the dream of being a home owner (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50087531) |
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Date: August 23rd, 2026 3:39 PM Author: AZNgirl dressed as Goat to attract Birdshit Jews maek more under 30y, wtf are u denying them that? U sound like a fking anti semite who hates Israel and im reporting this poast to the ADL (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50087538) |
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Date: August 23rd, 2026 4:03 PM Author: VacuFit You've got untreated AIDS and you'll be dead in <5 years (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2:#50087558) |