{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F3e2affc5-abf5-43c0-a3f7-ec6565eff79c","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"Debunking the 15-year Mortgage Myth","description":"For the average Joe looking to buy a home or a second vacation home, the process of choosing which loan can be overwhelming. To be perfectly honest, it reminds me a lot of our tax-code (which I have a strong distaste for).\r\n\r\nI am all too familiar with this overwhelming feeling because as I type these show notes I am in underwriting and set to close 10 days from now. \r\n\r\nWhile we are not going to go into full detail of all mortgage options today, we are going to identify what we believe is the best strategy to paying off the mortgage.\r\n\r\nShockingly, it is not the 15-year mortgage.\r\n\r\nIn most scenarios, we strongly believe stuffing the additional monthly payment a 15-year mortgage includes is not beneficial to you.\r\n\r\nWhy?\r\n\r\nPut simply, we believe an additional $6,000 - $12,000 (assuming the additional payment is between $500 - $1,000 per month) can earn more and present a greater opportunity by being stored elsewhere. Not to mention, which house will sell quicker? A paid off home or a home with a 90% balance left on the note. \r\n\r\nIt doesn't impact the sale, of course.\r\n\r\nFood for thought in today's podcast episode regarding the 15-year mortgage vs. the 30-year mortgage.\r\n\r\nTake a listen to decide for yourself which is best for you and your family.","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/a750c390-803b-46f4-b7c4-3e2ca5f6cadb/wealth-without-wall-street-podcast-artwork-2000.jpg"}