I got tired of renting, and I looked it up, I realized I'm paying the equivalent of a $300k property for a standard 30-year mortgage in rent. And a $300k house is much nicer than my apartment.

I saw a $50k condo down the road from me. It looks not quite as good as my current apartment. Getting a mortgage for something like that is much better than renting, right?

  • medium_adult_son [he/him]
    ·
    3 years ago

    If you can afford a 15-year mortgage on that condo, the interest rate is better and credit unions will usually not sell your loan to a larger bank if it's 15 years or less. That way you can pay your local credit union directly instead of a super evil megabank that may end up selling it to another megabank.