<prompt> Human: We are going to be living in a vacation town where the cost of living is a little pricier. My wife and I have been debating the 30 year vs. 15 year mortgage. I want 15, but she argues that wed be house poor even though wed save in the long run... the house is a pseudo fixer upper... but mostly its just a 70s home wood paneling etc.. Wed be saving 10k a year assuming all goes according to plan... I mostly just want confirmation from internet strangers, but maybe Im crazy!  <response>: Its about 25 of gross, or close to 13 of net, and then you need add on other costs like utilities.Oh, and its a pseudo fixer upper.It depends what other costs you have. If you dont very many, youre fine. If you do have some, youre not.If youre concerned about cash flow, then a 30 year would be the way to go. You can always make bigger payments, and if your income increases or costs decrease you can refinance at that time. With the 15 year, you give up a lot of flexibility for the interest rate reduction. 