184 - 30YR v 15YR Mortgages: Asset Investing Series (Part 2) | Your Business Your Wealth

A common question when purchasing a home is actually a trick question. Do you want a 15-year or 30-year mortgage? While you may like to presume that the bank has your best interest in mind, it is still true that your loan makes them money. Discover how to truly answer this question as Paul and Cory break down what the implications are for either mortgage structure.

00:00 - Show Starts
00:57 - Paul Welcomes
1:40 - Cory explains the title of the episode
2:50 - Imagine you’re going to lend 400k…
5:50 - Why do banks want people in a 15-year mortgage
6:50 - 15-yr versus 30-yr over time
10:45 - Recap from 183: How banks make money
17:58 - Inflation and your mortgage payment
19:22 - A Message from Sound Financial Group (Commercial)
19:30 - Back from commercial
20:20 - What you can do with the extra cash flow from a 30yr
26:24 - The trick question  
28:00 - Show wrap up
30:29 - Show ends, thank you for listening

MUSIC CREDITS
Contains a sample of “King” by Zayde Wølf courtesy of Lyric House.

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