If you can handle the mortgage payments and the interest rate is similar, a fifteen year mortgage can be a good idea. Here is a table to give you an idea of what payments would be on different amounts at different interest rates.
I recommend that you use a calculator from one of the ads on the right to do your own calculation for mortgage payments based on your finances.
| Mortgage Amount | 6.5% | 7.0% | 7.5% | 8.0% |
| $50,000 | $436 | $450 | $464 | $478 |
| $60,000 | $523 | $539 | $556 | $574 |
| $70,000 | $610 | $629 | $649 | $669 |
| $80,000 | $697 | $719 | $741 | $765 |
| $90,000 | $784 | $809 | $834 | $860 |
| $100,000 | $871 | $899 | $927 | $956 |
| $120,000 | $1,045 | $1,079 | $1,112 | $1,147 |
| $140,000 | $1,219 | $1,259 | $1,298 | $1,338 |
| $160,000 | $1,394 | $1,438 | $1,483 | $1,530 |
| $180,000 | $1,568 | $1,618 | $1,669 | $1,721 |
| $200,000 | $1,742 | $1,798 | $1,854 | $1,912 |
| $220,000 | $1,916 | $1,979 | $2,039 | $2,103 |
| $240,000 | $2,090 | $2,158 | $2,225 | $2,294 |
| $260,000 | $2,265 | $2,337 | $2,410 | $2,486 |
| $280,000 | $2,439 | $2,517 | $2,596 | $2,677 |
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