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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=2̃#50086887) |
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=2̃#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=2̃#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=2̃#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=2̃#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=2̃#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=2̃#50086836) |
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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=2̃#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=2̃#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=2̃#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=2̃#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 10:18 AM Author: Consuela ym is uncommon on residential loans (http://www.autoadmit.com/thread.php?thread_id=5896238&forum_id=2̃#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=2̃#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=2̃#50086890) |
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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=2̃#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=2̃#50086910) |