My TC is 270K. SO is currently self-employed and income varies but brings in 6K-9K after tax per month.

We plan to put down for a 950K TH new construction (low property tax, about 3k) with 25-30% down. This is our second house, current house monthly pmt is 2K all in.

Plan to go aggressively by taking a 15 year loan (mthly pmt somewhere around 5.5K). Is this a stretch? We can rent out the current house for 3.5K to offset some mortgage payment if needed.

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No it is not a stretch unless you have a lot of other expenses and other debt.
Generally my thinking is to take a 30 year mortgage for a slightly higher rate to give yourself some flexibility. If you want to pay it off in 15 years you can. If you want to deploy your cash elsewhere and on another investment then you can do that too. I think the flexibility is worth the difference in interest but that’s for you to decide.

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By my rough estimate you’re bringing in 18-20k post tax per month. You would be paying $8100 in debt in that scenario. Can you live your desired lifestyle with that?

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Why 15 yr?

Would like to build home equity more quickly. I do not believe the mortgage interest would go down any time sooner, probably would just float around 5-6%. I do not see refinance opportunities in a year or two. It may not like two years ago where you could borrow cheap money and leverage them into equity and gain out of the inflated valuation.

What state is this in?

PA

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