No. of Recommendations: 1
If you take the 30 yr. mortgage, you still give yourself the option to make additional principal payments - then at least you have a cushion - - if you can afford it, put extra towards principal, if a month occurs that you can't, at least your required mortgage payment isn't in jeopardy.

If you go this route, just make sure there are no prepayment penalties.

We made extra payments on ours, tracked it with an amort. spreadsheet – it was motivational, as far as entering in the extra amount monthly and seeing the ‘last payment date’ move up closer… Of course, we are easily amused…
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