Private Lending & Conventional Mortgage Advice

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Do you base decisions on 15 or 30 year loan

Posted Aug 4 2019, 18:34

Hi all

I’m what you’d define as a newbie whose looking to make his first purchase very soon. A key financial goal is to have positive cash flow. Do you recommend to go with a 15 or 30 year loan when running the numbers?

I've been using 15 year in my analysis of single family homes in the area as a comparison. Either the price I need to pay must be much lower than the asking price on MLS or the rent needs to be higher than the market, or I need to lower the costs I've assumed? The cost items that are not fixed assumptions are: vacancy 10% of yearly income, maintenance 4% of income, CapX 4% of income.

15 or 30 is the question?


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