Currently have a 30 yr fixed mortgage at 4.375% and have the option to do a 15 yr fixed at 2.875%. Should I do it? Have the money and not worried about losing my job.

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I had a $180k 30 year fixed at 4.25% that I moved to a 15 year fixed at 3.125% in 2011 and my condo is actually now paid off as of the middle of 2019! I know I could always leverage it, but it feels pretty dam good to not have a mortgage payment on it and I now own another house that’s a rental (will have a mortgage there for a long time).

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I actually have two rental properties... one has a second home mortgage on it at 3.75% on a 30 year fixed that I got in 2014 and the second one is a investment property mortgage at 3.65% also on a 30 year fixed from 2015.

Run the schedules and see if it’s worth the risk. Personally, I wouldn’t want the higher required payment - I prefer the option to pre-pay. I am also more worried about losing my job.

What would they offer for 30y fixed?

Just do 30y then (try to get the zero financing option) and monitor the situation. You can always refinance one more time once everything calms down.

Consider a 20 yr?

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