Is a 15year fixed mortgage a good option in today's rate environment? Someone was telling me the sweet spot is 30-year fixed

A 15 year can be a good move if you are sure you want to pay off your mortgage in an accelerated time frame,and you are sure that life's setbacks won't knock on your door. The reason many (including me) say that a 30 year is best, is because if you take a 15 year mortgage, you are stuck with that payment no matter what. It's true that 15 year rates are lower than 30 year rates, but since 30 year mortgages don't carry pre-payment penalties, you can amortize them over whatever time frame you like and have the built in protection of a lower payment if you need it. There is no doubt that with the 15 year amortization and the lower rate that a 15 year would save you more in interest and time to payoff, it's just that you have more of a cushion if you choose a 30 and "self-amortize" over whatever time frame fits your budget. Have a loan officer run the numbers both ways for you and see what works for your financial goals. Click on my profile to contact me if you would like me to prepare itemized quotes for you. Gregorio Denny -- WeFixRates.Com --

A 15 year mortgage can be an excellent option since most rates are under or around 4% fixed. I would be happy to put some numbers together for you. We are Direct Lenders licensed in all 50 states. Please email me privately. Thanks.

The difference is about 1/2 %. I'd call that sweet. .... Happy funding, Rudi

Def a good option right now if you can afford it. You can get 15 year term for close to 4%