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

Expertise: Landlording & Rental Properties, Personal Development, Real Estate News & Commentary, Real Estate Investing Basics, Business Management, Flipping Houses, Mortgages & Creative Financing, Real Estate Deal Analysis & Advice, Real Estate Wholesaling, Personal Finance, Real Estate Marketing, AskBP
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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!

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Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. He began buying rental properties and flipping houses at age 21, discovering he didn’t need to work 40 years at a corporate job to have “the good life.” Today, with nearly 100 rental units and dozens of rehabs under his belt, he continues to invest in real estate while also showing others the power, and impact, of financial freedom. His writings have been featured on,,, Money Magazine, and numerous other publications across the web and in print media. He is the author of The Book on Investing in Real Estate with No (and Low) Money Down, The Book on Rental Property Investing, and co-author of The Book on Managing Rental Properties, which he wrote alongside his wife, Heather, and How to Invest in Real Estate, which he wrote alongside Joshua Dorkin. A life-long adventurer, Brandon (along with Heather and daughter Rosie) splits his time between his home in Washington State and various destinations around the globe.

    Ruud Van de Beeten from Arnhem, Gelderland
    Replied about 4 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 4 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..