12-18-2009, 01:52 AM
Wow - thanks. And wow - sorry about the delay in responding.
Running the numbers shows that we'd be paying a bit more over 30 years, but also a bit less every month. On balance, the bit less outweights the bit more, so that's that.
In other words, I ignored the long run. This is mostly because we're only three years in, but also because our monthly budget is done, well, monthly. So having x dollars every month to pay bills or handle unforeseen expenses is of more benefit than spending 27x over the long term.
Running the numbers shows that we'd be paying a bit more over 30 years, but also a bit less every month. On balance, the bit less outweights the bit more, so that's that.
In other words, I ignored the long run. This is mostly because we're only three years in, but also because our monthly budget is done, well, monthly. So having x dollars every month to pay bills or handle unforeseen expenses is of more benefit than spending 27x over the long term.