Hi lyc5e,Liz & Cath are both correct;Most folks aren't disciplined enough to pay down more than their minimum (although MY experience of most of us Motley Fools is that we are FAR from the norm and usually quite a bit more disciplined financially... even the worst of us (on THESE boards, anyway.))There are 40 year loans avail. without a premium over the 30 year loans... BUT the lenders (that I know) who offer the BEST 30 year rates don't stretch to 40 without a bump in rates or fees... IF they stretch at all.MOST 40 year loans are versions of option ARMs.Better solution option;Shorter-term ARM, interest-only. This has got to assume you have the discipline to maximize the use of the funds you are saving by not being forced to pay principal back to the lender every month.These are available today in the sub-4% range.Best solution option (in my opinion);5/1 ARM, interest-only... currently in the sub-6% range.LUCK!Dave DonhoffMortgage Fool
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