“I can see having a 30 year mortgage and working to pay it off sooner.”
It’s amazing what a little extra thrown at the principle each month can do. :)
A home mortgage is probably the last thing anyone should pre-pay; it is generally a low interest rate and tax-deductible. While everything you buy even a year or two down the road will be at higher prices, the sales price of that home remains constant. Even with the fall in housing prices, we’re OK because we bought before the bubble (and would never pre-pay it as long as ANY other bills are around - and even then I’d hesitate to pre-pay).