 TITLE: Should You Get a 15- or 30-Year Mortgage? CONTENT: When Does a 30-Year Mortgage Make More Sense?\n---------------------------------------------\nDespite the higher interest rate on a 30-year mortgage, the longer loan term will mean a much lower monthly mortgage bill, which can free up a significant amount of your money in your budget. That means more you can put into savings, investments and future family expansions. The simple math of having more cash on hand every month can be appealing to many borrowers, despite the increased overall cost of the loan.\nOne of the best opportunities of the 30-year option is the financial flexibility it can afford. While you won't be locked into a higher monthly payment, it's still possible for you to treat your 30-year mortgage like a 15-year mortgage. If you can afford it and choose to do so, you can make higher monthly payments on your 30-year mortgage and expedite the repayment timeline. Since you're making a higher monthly payment by choice, you can always go back to making the required monthly payment if your financial situation changes.\nOpting for the 30-year mortgage can also mean you're able to afford to make investments. You could invest the difference you save on monthly payments and potentially come out ahead over the long term. The return on your investments would have to be higher than your mortgage rate for you to at least break even, however, which could be possible depending on your investment strategy and market factors. END