3 ms·
On a 30 year fixed mortgage what else matters? That’s your monthly payment. Taxes I guess? Depends how long you’re planning to save. You can hold treasuries or
by arcticbull 5y ago
On a 30 year fixed mortgage what else matters? That’s your monthly payment. Taxes I guess?
Depends how long you’re planning to save. You can hold treasuries or risk parity adjusted pairings. Or CDs ladders. Lots of stuff!
- wahern 5y ago>> Also, “don’t worry, just look at the monthly payment” is something that should only ever be said by a car salesman. > On a 30 year fixed mortgage what else matters? I think the general criticism regarding monthly payments is more targeted at products like interest-only mortgages, which were hot in the early oughts. Those aren't as common these days. Maybe some people have 10/1 ARMs and similar in mind, but that's a stretch. (Anyhow, today the spreads between ARMs and 30-year are ridiculously small.)
- SilasX 5y agoAs above, the same reasons why it’s bad to think of a car purchase purely in terms of the monthly payment. > Depends how long you’re planning to save. You can hold treasuries or risk parity adjusted pairings. Or CDs ladders. Lots of stuff! You don’t know how long the search for a home will take. That’s the point.