When you look back on your experience with real estate, would you say putting down 20% and signing up for a 15-year mortgage was the best option?

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No, better option would be putting down 3-5% (possible if classified as primary residence) and putting the rest of that 15-17% towards another property or in an index fund.

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That's what I did. No regrets (so far)

Ensuring my down payment is sufficient to avoid PMI is top of my list, then it depends on where rates are and where I think they'll go, whether I might refinance at some point, how much I want my payment to be and how long I think I'll own it. I own multiple properties and of those that are financed, 2 were 15 year, 1 was 20 and another 30.

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PMI is so cheap and market values keep increasing. We only put 10% down and took a $55 a month PMI in october, by August this year we will have the PMI removed because of how much the value has increased

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30 yr mortgage to minimize payment amount

1. For investment property example: Increases the difference between mortgage and rent for the property
2. For personal home example: Invest the difference you'd pay between the 15/20 and 30 yr mortgage. By the time you pay off the mortgage, you' likely earn the equity in the home and gains from investment. If you sell before the 30 years, at least you were making the lower mortgage payments.

I started with 20% and a 30 year because the 15 year payments would have been too much, but switched it to a 15 a few years later. I’ve paid a bit extra each month as well, and now that I’m 2 years away from having it paid off, I’m very happy I did it that way. People will say it would have been smarter to invest the money, but for me, debt is a stressor so it was the best option.

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