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Old 03-02-2018, 09:31 AM
vitamin vitamin is offline
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Join Date: Mar 2018
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Default 15 vs 30 year mortgage

Does it matter, setting interest rate aside, if a person gets a
  1. 15 year mortgage or,
  2. gets a 30 year mortgage and pays extra in principal monthly to have the loan paid on in 15 years
Ultimately, if the rate was the same and the borrower pay extra on principal monthly leading to paying off the loan in 15 years, is there a difference in the total paid? Any advantage to a 15 year loan?

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