%0 Journal Article
%T Is a 30-Year Mortgage Preferable to a 15-Year Mortgage?
%A Peter M. Basciano
%A James M. Grayson
%A James Walton
%J Journal of Financial Counseling and Planning
%D 2006
%I Association for Financial Counseling and Planning Education
%X Better financial results accrue to some borrowers when they select a 30-year mortgage coupled with a simulta-neous investment plan rather than a 15-year mortgage term and a subsequent investment plan. These results are particularly applicable in a low mortgage rate environment; however, for the vast majority of borrowers, there remains a significant probability that the 30-year mortgage is the better mortgage product even in higher mort-gage rate scenarios. Further, the financial benefit associated with a 30-year mortgage increases as the bor-rower?s marginal tax rate and risk tolerance increase.
%K Debt planning
%K Home mortgage
%K Retirement
%K Retirement planning
%U http://www.afcpe.org/assets/pdf/vol1712.pdf