922,083
Most of my clients get 30 year mortgages, but if you can down the road refi to a 15 or 20 year mortgage then I would recommend it. I would always recommend talking to your CPA and CFP first. I do recommend 20% down and stay away from PMI.... that is a waste of money.
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Bruce Kunz
Howell, NJ
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
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David Popoff
Darien, CT
5,230,051
Gosh, if they're getting a mortgage, it's about 2/3 30-year and 1/3 15-year. I personally like the 15-year for the lower rates and the shorter term.
I have had a rash of cash buyers of late too.
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
417,221
Ninety four percent of Americans get 30 year fixed - 3% get 15 year and then ARM variety products are the rest
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
2,220,323
30 yr
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Anthony Acosta - ALLAT...
Atlanta, GA
711,852
Most get 30 years as they are not necessarily interested in building equity but rather in getting a bigger home.
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
1,725,996
Usually 30 year
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,104,931
I rarely see anything less than a 30 year mortgage. The monthly carry is less and people pay down priniciple throughout the loan of the life when it's convenient for them and they reduce the term that way.
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Carol Williams
Wenatchee, WA
1,196,798
30 year fixed
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Kathleen Daniels, Prob...
San Jose, CA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Doug Dawes
Topsfield, MA
1,844,291
30 year & the old addage is 'if something happens like a layoff etc. you would only have to pay the 30 yr which would be 1/3 less than a 15. But ... if you can, pay more every month into the 30. I don't know what percentage of people do that. Bet not many.
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Kathleen Daniels, Prob...
San Jose, CA
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Bruce Kunz
Howell, NJ
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Doug Dawes
Topsfield, MA
1,311,397
30 year fixed is still the loan of most client's choice.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,583,278
30 year or cash buyers....
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
785,464
Ye
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,772,575
The clients do what is right for them. We would not offer input. A
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
7,836,134
Most of the first time home buyers get 30 year mortgages. 15 year loans do have better rates.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
556,536
Never really asked or looked into this or any of the other terms of a buyers loan. The only thing to look into is if it is approved and what can we do to fix it if not approved.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
628,764
Lately I have had a number of cash Buyers ~ However the 30 year mortgage is most common
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
5,216,398
30 year mortgage is the most popular!
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
5,049,108
Of the buyers with loans most are 30 year.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
2,390,620
99% go 30 year here in my market Andrew Cooper
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
1,502,998
The 30 year fixed is the most common. I do wish I had gotten the 15 year on my rentals though. The monthly payment difference is negligable (~$200) at my interest rates (below 4%). I have those on a 5-10 year payoff plan anyways, so not too concerned.
FYI - Back in the olden days (80s & 90s) of 11% to 20% interest rates, making one extra principal payment per YEAR would cut your payoff time in HALF! At today's rates, you need to make at least four extra principal payments a year for that same effect.
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Kathleen Daniels, Prob...
San Jose, CA
809,258
4,882,355
1,712,676
225,526
I would say at least 99% have been a 30 year fixed.
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Doug Dawes
Topsfield, MA
5,868,544
1,374,373
4,936,677
1,045,440
The vast majority of home buyers in Northern Virginia opt for 30 yr fixed rate mortgage loans. While there is some small reduction in interest rates that usually accompanies a 15 yr mortgage the difference is not usually significant enough for most to make the 15 yr loan a preference over the 30 yr loan. Additionally there are easy methods by which a home owner wishing to shorten the length and the overall interest paid on the mortgage without obligating themselves on a monthly basis to the higher total payment that accompanies the shorter term mortgage.
So, for most of my buyer clients the 30 year mortgage makes more fiscal and life style sense. While I sell homes not loans I am always willing to help my clients to understand pros and cons throughout the home buying process so they can make decisions that make the most sense for them.
4,434,127
1,090,637
Most are cash buyers but 30 year mortgages are more popular than 15 since the payment is lower and the buyers can pay extra principal to shorten the term.
6,393,404
1,622,432
182,915
Mostly clients take 30 years in purchase and 15 years in refinance depend on leftover term.
3,345,091
3,383,334
99.9% of them do 30 year mortgages. But I did have a buyer once that did a 20 year term. The lender totally screwed it up and when they started to sign their loan docs, we had to get them corrected. A quick lunch outing and they were able to get the correct docs to the title company.
4,800,082
851,242
536,943
First time buyers go for the 30 year loan. I always tell them they can pay on principal only and cut a few years off their loan.
Other folks that have purchased before, usually prefer the 15 year.