#AskBP 063: 30 Year Mortgage vs. 15 Year Mortgage… Which is Better?

Expertise: Landlording & Rental Properties, Personal Development, Real Estate News & Commentary, Business Management, Flipping Houses, Mortgages & Creative Financing, Real Estate Deal Analysis & Advice, Real Estate Wholesaling, Personal Finance, Real Estate Marketing, AskBP, Real Estate Investing Basics
582 Articles Written
30 Year Mortgage vs. 15 Year Mortgage... Which is Better?

The two most common loan terms for real estate shoppers is the 30 year mortgage and the 15 year mortgage. But what is the best for you? In this episode of the #AskBP Podcast, Brandon discusses the pros and cons of each to help YOU decide which is your ideal loan term length. Stay tuned!

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free

Watch the Episode Below

Listen to the Episode Below

Links from the Show

Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. He is a nationally recognized leader in the real estate education space and has tau...
Read more
    Ruud Van de Beeten from Arnhem, Gelderland
    Replied about 5 years ago
    I’d like to add another reason why someone would want a 30 year mortgage. In the Netherlands, and also in the US, it’s possible to make extra payments to decrease the debt. Some lenders will have restrictions to the amount of extra payments per year (10-20% of the total initial mortgage in the Netherlands) so look into that. With the ability to make extra payments you are more flexible to pay down the debt. If the property is vacant, don’t pay down, if you have a nice cashflow you can choose to pay extra. Just my 2 cents.
    Kyle Atans Investor from Sherman Oaks, California
    Replied about 5 years ago
    Also, depends of interest rate. Now is relatively low and 30 years is very appealing. If goes up, the things will shift towards 15 years..