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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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New Home in 30's
If you purchased a home in your 30's what was your mortgage term?
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Posted 4/16/15 4:35 PM  |
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queensgal
Smile
Member since 4/09 3287 total posts
Name:
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Re: New Home in 30's
We got a 30 year fixed. Would have loved a 15 or 20 but concerned about locking into payments that high while our family is so young and we need to save for college, retirement, etc. rates are really low right now so the benefit is less than in years when rates were higher.
We are making extra payments in hopes of being done in 20 years. We will end up paying more than if we had just taken a 20 year loan but the flexibility was worth it to us. This way we have lower required payments in case of job loss or other unforeseen event.
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| Posted 4/16/15 5:03 PM |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
Name:
Mama mama mama....
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Re: New Home in 30's
30 year fixed.
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| Posted 4/16/15 6:14 PM |
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BAK217
LIF Infant
Member since 8/14 328 total posts
Name:
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Re: New Home in 30's
Originally had a 30 year mortgage,
after 3 years we refinanced at a lower interest rate and took a 15 year mortgage.
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| Posted 4/16/15 7:51 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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New Home in 30's
I'm 37 and will be taking out a 30 year fixed.
We first purchased when I was 27, had a 30 year but refinanced to a 20 after 5 years or so.
Hope to do the same provided the rates are as sweet as they are now.
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| Posted 4/17/15 5:09 AM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: New Home in 30's
30 year fixed. You can always refinance or pay off early.
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| Posted 4/17/15 9:16 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: New Home in 30's
We bought our home the year we turned 30, we got a 30 yr mortgage. We bought at the peak of the market so there was NO way we could take on a lesser term, the home prices were so astronomical that we NEEDED 30 yrs to actually afford what we wanted. Hopefully though we'll have it paid off before then, that's the plan anyway. 
Message edited 4/17/2015 9:38:41 AM.
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| Posted 4/17/15 9:38 AM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: New Home in 30's
Posted by Hofstra26
We bought our home the year we turned 30, we got a 30 yr mortgage. We bought at the peak of the market so there was NO way we could take on a lesser term, the home prices were so astronomical that we NEEDED 30 yrs to actually afford what we wanted. Hopefully though we'll have it paid off before then, that's the plan anyway.
Same with us (although I was 26 and DH was 30).
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| Posted 4/17/15 9:53 AM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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New Home in 30's
i was in my 20s when i did a 30 year so i chose 20 yr which is what i did when i refinanced
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| Posted 4/17/15 10:10 AM |
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PitterPatter11
Baby Boy is Here!
Member since 5/11 7619 total posts
Name:
Momma <3
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New Home in 30's
We just refinanced (early 30s) and got a 15 year mortgage. Initially, we had a 30 year mortgage that we were paying extra on every month.
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| Posted 4/17/15 11:53 AM |
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luvbuffet
LIF Adult
Member since 7/10 6470 total posts
Name:
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Re: New Home in 30's
i was 27, 30 yr fixed
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| Posted 4/17/15 1:23 PM |
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nraboni
Uggh...
Member since 10/09 6905 total posts
Name:
Nicole
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New Home in 30's
30 year fixed.
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| Posted 4/17/15 1:35 PM |
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VeeJay
Love baby feet
Member since 2/09 2894 total posts
Name:
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Re: New Home in 30's
We have a 30 year mortgage but we make extra principal payments each month.
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| Posted 4/17/15 1:52 PM |
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WannaBeAMom11
LIF Adult
Member since 1/11 7391 total posts
Name:
Name
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New Home in 30's
30 fixed. Next house will probably be 30 fixed with extra payments done yearly.
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| Posted 4/17/15 3:04 PM |
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EandF
LIF Adult
Member since 11/11 1674 total posts
Name:
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Re: New Home in 30's
We bought in September 2013 with a 30 year fixed. We're currently refinancing to 20 year fixed.
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| Posted 4/17/15 8:53 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: New Home in 30's
30 year fixed. We got an awesome rate so I don't know if we will refinance but def will pay it off early.
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| Posted 4/20/15 6:59 PM |
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