<prompt> Human: Im getting ready to buy a house in early 2016 after my divorce is finalized and Id like some opinion on this. First assume I will qualify for the mortgages, I have good income, stable employment, and a 700 credit score. My question really boils down to this: for the houses I am looking at, around a 200k loan, I can afford to go with either a 15 year fixed or 30 year fixed at current rates. I know the benefit of choosing the 15 year over the 30 is that I pay things down quicker. But, Im wondering if it isnt better to get the 30 year and pay down extra principal each month? The upside to doing it that way that I see is that it gives me the flexibility to ease off for a month or two if the need arises, whereas with a 15, Im locked into a higher payment. For the record, I could easily afford either option and I have good savings, but I come from a background of income instability so Im always waiting for the other shoe to drop, perhaps irrationally. Any thoughts, experiences or comments would be appreciated. Thanks!  <response>: With rates as low as they are right now, consider the 30 year mortgage. What you could do is calculate the difference in monthly mortgage payment between the 15 vs. 30. Then, take out the 30 year note but invest the difference between the two payments each month. This offers a few benefits: You have the comfort of knowing you are only obligated to pay the 30 year monthly payment each month giving you some cushion, but as long as thing stay good you are essentially making the 15 year payment but investing the rest. The money invested will likely work for you more than if you took out the 15 year note since you are likely to have a higher ROI on your invested money rather than paying down your lower rate mortgage faster. 