I was listening to Clark Howard on KVEC 920 today and he talked about getting a 15 year mortgage (at a good rate) instead of putting extra money into trying to reduce the principal of a 30 year loan. Interesting stuff….
He also recommended using a mortgage calculator that prints out the amortization schedule when you’re shopping around for loans. He mentioned a couple sites and one of them is the place where I purchased the mortgage calculators that I’ve put on SloCountyHomes.com.
I looked at a bunch of mortgage calculators and thought these were the best out there:
There’s even a Refinance Breakeven calculator to see if it makes sense for you to refi at the current rates.