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I think your assumption is wrong, but your conclusion is correct.

Typically, shorter terms have lower interest rates (you assumed the inverse, which can happen but is uncommon), mostly because the shorter the term, the lower the risk is.

Another reason to pick the shorter term would be purely psychological - although you could simply overpay the longer term mortgage, most people struggle to stick with that. It is quite easy to find a reason every month to skip 'just one more month' and use the money for something else - and then end up with 29.5 years after all.

I think your assumption is wrong, but your conclusion is correct.

Typically, shorter terms have lower interest rates (you assumed the inverse, which can happen but is uncommon).

Another reason to pick the shorter term would be purely psychological - although you could simply overpay the longer term mortgage, most people struggle to stick with that. It is quite easy to find a reason every month to skip 'just one more month' and use the money for something else - and then end up with 29.5 years after all.

I think your assumption is wrong, but your conclusion is correct.

Typically, shorter terms have lower interest rates (you assumed the inverse, which can happen but is uncommon), mostly because the shorter the term, the lower the risk is.

Another reason to pick the shorter term would be purely psychological - although you could simply overpay the longer term mortgage, most people struggle to stick with that. It is quite easy to find a reason every month to skip 'just one more month' and use the money for something else - and then end up with 29.5 years after all.

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source | link

I think your assumption is wrong, but your conclusion is correct.

Typically, shorter terms have lower interest rates (you assumed the inverse, which can happen but is uncommon).

Another reason to pick the shorter term would be purely psychological - although you could simply overpay the longer term mortgage, most people struggle to stick with that. It is quite easy to find a reason every month to skip 'just one more month' and use the money for something else - and then end up with 29.5 years after all.