When you look at the cost of a 30 year mortgage vs. a 15 year mortgage you immediately notice a very large number. That would be the number of $$$'s a 15 year loan can save when comparing the lifetime of each loan. Made popular decades ago, the 30 year mortgage was poised to put Americans in homes by offering low monthly payments.
Just think about it.... 30 YEARS
Because a 30 year loan is so commonplace in today's society many of us lose sight of the fact of just how long 30 years is. And when that mortgage gets refinanced back into a new 30 year loan, it starts the clock all over again.
Pride in ownership? Who actually owns their home? check out the video below -