<prompt> Human: So, I understand that a 15yr mortgage will generally have a lower interest rate than a 30 yr mortgage, but the monthly payments are much higher. Granted, if you have plenty of money to pay a higher monthly payment, would it be better to get the 15 yr mortgage because youll pay less over the long run? Or is it better to get a 30 yr mortgage with lower payments, but then put your extra cash into savings which could yield much more earnings with a generally higher interest rate earned? Also, which choice would be better if you were only planning to live in the house for 5-10 years? I hope these questions make sense. Edit: Wow, thank you all for the advice. I definitely feel more educated about this topic. I think the common answer is that it depends on many factors and my own personal situation to know which type of mortgage is best suited to my circumstances.  <response>: Neither is better, they are different and have advantages and disadvantages that may or may not be important to a particular person.Same answer for your last question, whether one is better or worse if you plan on living there for 5-10 years depends on a multitude of other things, including your personal goals, fears and desires. 