30 year mortgage vs 15 year mortgage for young first time home buyers??
Hi! First time posting to reddit, but I’m looking for advice on buying our first home this summer! My fiancé (24m) and I (23f) are recent college grads that have been renting for two years and are ready to own a home! We are very money conscious and focus a lot on having a frugal retirement. With that said, what works best for us? A 15 year mortgage, or a 30 year mortgage (with the one extra payment each year towards principal?). I’ll be honest, I like nice things and will probably end up upgrading to a nicer home after 5 years or so to start a family in. Is the 15 year mortgage worth it for us?