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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.consumers.house - Date & Time for the message: 15 Jun 2005 08:10:18 -0700
/ Author of the message: trader4@optonline.net |
Title of the message: |
Re: Switch from 15 to 30 Yr. Mortgage?
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Text of the message: |
"What I consider the difference in the rate is the same as you are calling "the few hundred a month he will have in extra cash flow..." So if he invests that you think its possible in 15 years to come out ahead. Ill take your word for that. " The rate and the difference in payment between a 15 yr mortgage and a 30 yr mortgage are two completely different things. In fact, in this case they work in opposite directions. The interest rate on the 30 yr is higher, but the 30 yr results in smaller monthly payments because you're taking twice as long to pay it off. As to the possible advantage to the 30 yr, this is basic math If you can invest the difference between the payment of the 30 yr and the 15 yr at a rate higher than the rate on the 30 yr mortgage, you come out ahead. Essentially, it's like borrowing money at say 5.5% and then putting it somewhere where it gets a different rate. If you get more than 5.5% |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.