Zillow Advice: Mortgage - Is it better to take a 15 , 20 or 30 year mortgage http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ Zillow Advice | Zillow Real Estate talking to a loan officer ... http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ talking to a loan officer is a great place to get your options laid out, side by side. Once you have the costs in front of you, you need to speak to your financial planner. Your choice of mortgages must be integrated into your financial plan. It cannot be a stand alone decision. Fri, 07 Dec 2012 13:46:00 GMT http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ 2012-12-07T13:46:00Z Over the life of the loan ... http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ <p>Over the life of the loan you will pay less with a shorter term because you pay a lower rate and less years of interest.&nbsp; With the "fiscal cliff" talk we are hearing about we may lose our mortgage interest tax deduction to some degree making shorter term mortgages more appealing.&nbsp; However when you compare the payments of a 15 year to that of a 30 year you may end up being more comfortable with the 30 year.</p> Fri, 07 Dec 2012 12:08:00 GMT http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ 2012-12-07T12:08:00Z Have you spoken to a loan ... http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ Have you spoken to a loan officer about these options? &nbsp;Any mortgage loan that you do will be what you most feel comfortable with. &nbsp;Rates between a 30 and 20 are not much difference, so making extra payments to your 30 year loan will cut down the months you owe. &nbsp;<br/><br/>When you meet with a loan officer have him/her show you an amortization schedule showing a 30 year loan paying it off in 20 years. &nbsp;Have them provide a side by side comparison of the 15 year loan and 30 year loan so that you are able to make a comfortable decision. &nbsp;<br/><br/>Just my thoughts, hopefully others on here will chime in to give their opinion. Fri, 07 Dec 2012 01:32:00 GMT http://www.zillow.com/advice-thread/Is-it-better-to-take-a-15-20-or-30-year-mortgage/470633/ 2012-12-07T01:32:00Z