15 season home loan compared to 31 season repaid for the 15

I have discovered equivalent concerns, even so they every apparently focus on an existing 30 season home loan and you can if this makes sense in order to re-finance to a beneficial fifteen. My question for you is a bit different. You will find not even ordered a home but I’m seeking to determine and this financial to choose. This means that, There isn’t to consider refinance costs and you will a general change in rate of interest.

The challenge is the fact I’m able to pay the fee into the an excellent 15 season home loan and you will would rather never to pay off a great home for the next 3 decades. Therefore i would fit into a 15. not, inside the deciding on particular financial hand calculators (which it can be done I am thinking about improperly) seemingly there’s no difference in getting a 30 season home loan and just spending it well within the 15 years.