Quote:
Originally Posted by spdrun
Why wouldn't you WANT to have the option of renting it out? You can always pay off a 15-yr loan early if that floats your boat.
|
Most people that buy property to rent opt for the longer term loans to keep the payments smaller. They're not looking to pay off the property, they're looking to maximize the monthly income.
Yes, the loan can be paid off early, but the interest rate for the 15 will always be less than the 30. Someone that plans on staying in the house for the duration of the loan will always come out ahead with a 15.