For a VA loan, should I do a 15 year term or get a 30 year term and do double payments?
We created the easiest process to request and submit mortgage info!
Start with our online application
book a call with one of our experienced mortgage nerds
For a VA loan, should I do a 15 year term or get a 30 year term and do double payments?
Question: For a VA loan, should I do a 15 year term,…
In a matter of days we were approved for an FHA loan
Luckily we found Julie
I’ve used Julie’s services twice
Julie was a breath of fresh air. She’s smart, experienced, easy to communicate with
My hubby and I worked with Julie to purchase our first home and it was awesome
THANK YOU JULIE AND TEAM for everything!
Julie is a ROCKSTAR!!!
CONTACT
CONNECT
Question:
For a VA loan, should I do a 15 year term, or a 30 year term, and just double up the payments?
Answer:
It really depends on what you are trying to optimize for: cost or flexibility. On one hand, the 15 year term should come with a lower rate so it wins cost-wise, BUT the 30 year term comes with more flexibility because you could stop making those double payments if stuff ever hit the fan.
I’m a girl that’s always on the move so I value flexibility over a smidge of short-term savings, so I would do the 30 year term, and double the payments. I’d recommend looking at exactly how much the interest savings would be each month before making the call though because a smidge of savings can easily turn into a heap depending on the rate difference!
PS Check out our simple eval process where you can choose whether you want to: get real rates specific for your scenario (beware of teaser rates!), see how much home you can afford, get pre-approved, or quickly submit your contact info so we can get back in touch.