30-Year Vs 15-Year Mortgage

If one can afford higher monthly payments, can contribute to retirement and savings accounts, and has significant savings funds, a 15-year term is a much better option to own the home in less time. However, if one is lacking any of the above mentioned conditions, or has an appetite for debt and risk, the money saved every month with a 30-year term can be invested elsewhere for higher returns.

Source: http://EzineArticles.com/7533584

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