Quote Originally Posted by Freak Out
Always get the 15 year fixed if you can afford it. If you start with a 30 fixed or an ARM as soon as you can refinance do so to a 15 year. Before you know it your home is paid for.
Consumer advocates Clark Howard and Dave Ramsey also favor getting a 15 year fixed if you can afford it.

About 5 and 1/2 years ago, we went from a 30 yr. fixed mortgage at 7.0% to a 15 yrd fixed mortgage at 5.0%. Our monthly payments went up just $34!

In the long run, we are saving thousands of dollars.