Question
I have a 30 year fixed mortgage where you can chose 4 options on how to pay.?
This loan will give you a choise between a 15 year payment, a 30 year payment, intrest only and a very very cheap minimum payment. This is offer by a well known bank, not a greedy broker shop. Do you want to know the details?
3 years ago - 3 answers
Best Answer
Chosen by Asker
If you can afford the 15 year...do that. Otherwise go with the 30 year...those other two aren't good for the long term
by Captain Jack
3 years ago
Asker's Rating: 
Other Answers
No thanks.
by Tony A- 3 years ago
It's called an Option ARM and if you elect to pay either the interest only payment or the minimum payment, you'd better be saving the 'extra' money and not spending it, because your payment is going to increase significantly - definitely to more than what the 30 year payment is, and possibly to more than what the 15 year payment is.
by aj485- 3 years ago