[project15]

Started listening to Dave Ramsey's cd again - specifically on mortgages. He recommends NEVER buying a 30 year fixed mortgage and stick only to the 15 year fixed with at least a 10% down payment and to stick to 25% of your NET income for a monthly payment.

I was thinking about this since the idea of paying a mortgage off in 15 years is enticing and I COULD afford it, but it's not ideal as we would have to move our price range down by about $25k which knocks us out of the neighborhood that we really love at the moment. However, that extra $25k added to the mortgage, plus another 15 years would probably come out to an extra $100k in payments over the life of the loan. His argument towards extra payments with a 30 year is that not many people stick to them.

I know that most of you have 30 year fixed, but would you have gone 15 year if you had the chance even if though it bumps your price range down?