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Is a 15 or 30-year Mortgage Better? www.sonjabush.com, Mammoth Lakes

Home buyers have many choices to make when purchasing a home and one of those choices has to do with the length of the loan. There are pros and cons to both the 15-year mortgage and the 30-year mortgage and the answer may not necessarily mean that one is “better” than the other; it simply depends on what the home buyer’s needs are.

The 15-Year Mortgage
If you choose the 15-year mortgage, your monthly payments may be higher than a 30-year loan would be, but your interest rate will be lower. Additionally, by going with the shorter loan, you will build equity faster than if you went with the longer loan. You pay a little more monthly, but you have a lower interest rate; build equity faster, and own your home in 15 years.

The 30-Year Mortgage
Many people that opt to take advantage of the 30-year mortgage do so because the monthly payments are lower, and thus, more affordable. This allows home buyers to choose homes in a higher price range than they could afford if they went with the 15-year loan. Though monthly payments may be lower, the interest rate on 30-year mortgages are higher, so in the long run, you end up paying a considerable amount of money back in interest as opposed to the shorter loan.

Which One Is Right For You?
The loan you decide to take advantage of depends on your financial picture at present, as well as your goals regarding long-term wealth. If you can adequately pay the higher monthly amount for the 15-year loan with no financial stress ensuing, then this would be your best option because the interest rate is lower and you own your home in 15 years.

If your current financial picture does not leave you with a lot of money at the end of the month, it is probably better to go with the lower monthly payments of the 30-year loan. You will end up paying a lot more interest in the end, but you will be able to comfortably afford your new home.

There are pros and cons to both home loans, so consider the varying factors before making a decision. You can discuss the matter further with a mortgage loan professional or your real estate agent.  

Call Sonja today to discuss your real estate needs at 661-979-9000 or email her at [email protected] to schedule an appointment.

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In case you missed it, here is the September newsletter! October coming soon!

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Last day with my 2 special house guests. Went on a walk in the meadow behind our house and they just love the water! I will miss your cuddles🐾 See you soon ❤️ ...

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It's October, which means all the cobwebs and dust In your house just become Halloween decorations*

*unless It's listed for sale... In that case, get to cleanin'!

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Congratulations to my client on the sale of this upgraded Forest Meadow condo. Hal has owned the place for 40+ years so this was a big deal for him. Time to move on to his next chapter and he is thrilled a full time local will be the new owner! Thanks to Brandee & Nicole @nexthomemammoth and the team at Sierra Escrow for a smooth transaction.

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Enjoy beer, a Bavarian Buffet from the EATery, and a silent auction benefiting the Rotary College Scholarship for local students.

October 13th!

More info at MLT's Website!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
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Open House Today! Come see this incredible property for yourself!

44 Wagon Wheel Drive
Sunday, October 2
4 PM - 6:30 PM

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#sonjasellsmammoth #mammothcondos #mammothrealestate
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Fall is here! Happy colors in the mountains!

I don't think most people realize how beautiful it is -- nice weather, fewer people and fall colors. So much to love!

Go to Mono County Tourism to sign up to find the best places to see the beautiful fall colors!

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Late Friday afternoon walk with our 2 houseguests. #lovewherewelive #mammothlakes #visitmammoth ...

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Sonja recently helped me purchase a condo. My experience with her was only positive. She's knowledgeable, thorough and friendly. She is the consummate professional and the standard to which I would hold any real estate agent. - Alexander R.

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Time isn’t always on your side, especially if you’re trying to time the real estate market.

Some homeowners postponed selling while they waited for prices to hit their peak. Here’s why you shouldn’t wait any longer:

💲The market is unpredictable — even experts can’t guarantee what it will do next!
☑️ You could pay more to buy your next home the longer you delay.
🤝 It’s still a great time to sell, but rising mortgage rates are beginning to slow down demand.

You can’t control the real estate market — but you can control when you put your home up for sale 🏡

Contact us to start a conversation about the right time to make your move.

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BIG bright windows are the main attraction in this spacious 2 bed/2 bath condo in St. Anton. This complex is next door to Canyon Lodge – one of the shortest walks of any Mammoth location! Come see this condo today and get ready for the best winter season of your life!

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If you're renting but plan on buying a house in the near, don't renew your lease without going month-to-month or making sure you can cancel it by giving your landlord a month or two notice.

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Thursday, September 29
9 AM - 11 AM

Stop by and tour 3 amazing Mammoth Lakes Properties tomorrow!!!

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Beautiful sunset tonight.

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Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

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If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

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