lilliesmom
Registered User
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We have our home up for sale.
We are hoping to take a mortgage of 15 years on our new purchase.
If we were to sign up for a 25/30year mortgage and then swap to a 15 in a year a two,would there be huge penilties.
In a casual meeting with the bank i said I was hoping for a15 year and the assistant said i should go with a longer term and then change it later.
We are hoping to buy an old building to refurbish so it would free up some cash?
We are hoping to take a mortgage of 15 years on our new purchase.
If we were to sign up for a 25/30year mortgage and then swap to a 15 in a year a two,would there be huge penilties.
In a casual meeting with the bank i said I was hoping for a15 year and the assistant said i should go with a longer term and then change it later.
We are hoping to buy an old building to refurbish so it would free up some cash?