[mylife]

I dont think I'll Listen to rick edelman...Im no financial genious but if the over all cost of financing a home is 250,000.00 less and you have full equity in half the time, it seems to me that you are better off.

But I agree with NY_Chuck that you may not want to pay a mortgage early if the extra liquid money you have as a result can be used to get YOU 12% return on an investment while you pay on a 5% mortgage...You are up 7%

[Skywalk]

I think NY Chuck's point is something similar to what Rick Edelman was saying.

Perhaps I misrepresented his point, but he was making the case for a general situation and he laid out his argument in great detail(I'd do it if I had the time..might do it anyway lol) as to why most people should get a 30 year mortgage and invest wisely with the money.

Also, with that plan you are making the same payments all the way through, and while your wealth is building those payments will take up less and less of your money. On top of that, investments undertaken with the money you aren't using on the mortgage each month will earn you 8-12 percent meaning you can have between 500K to 2 million(depending on what your specifics) at the end of that 30 years.

On top of THAT, inflation means that the payments you're making in years 15-30 will actually be significantly less than you would if you pay it off in 10 years. And once again, all the other money you have for investments because you aren't spending your last dimes on mortgage or mortgage-related financial crunches.