[el ess A]

Also, ask about 15 year mortgages. THAT is way preferred over 30 years. Unless you're interested in paying twice the price for it.

We started with a 30 year in 2004 with a 5.5%, had to get PMI because we only put 10% down, because we still kept our other home we paid off and now are renting out. 5 years later, we converted it to a 15 year with 4.35% and dropped PMI because our land/home value actually increased by 38.4% during that time frame. And it's only costing $61 per month extra than what we were paying with the 30 year, and effectively cut off 10 years to the original loan. So I guess you could say it was a 20 year loan. Cost a few hundred to do it, but we're going to save almost $100K doing it by the time the house is paid off, and likely sooner as that and the Camaro are the only credit things we got. 30 years is a LONG time to pay.