We currently have a mortgage with high interest rates, but can refinance at a low. Here are our options:

(1) refinancing at 3.75% for 15 years, with the intention to sell the house and the use of equity when we buy a new house.

(2) to 4.375% for 30 years, with the intention that the money we have saved more money and refinance using, we can save (reduced from the mortgage of more than two or three years), for a deposit while maintaining and Rental of the first house. The rent would probably cover the mortgage, so we went with a loan of 30 years.

All thoughts of a purely financial point of view? I know there are more than financial considerations, but that’s what I work at that time.

In my case I refinance at 3.75% for 15 years. We were given this opportunity, but our current mortgage is 15% years@4.625, and we are more than 2 years in IT. It does not make much sense for us because we wanted the mortgage is paid before I was 60 years.

I see things like this:
1) The first payment (the mortgage to 15 years), pay much more on the principle that you are interesting.
2) On a $ 100,000 mortgage, you should pay $ 48,840 less interest (which corresponds to keep paying $ 4,000 + / year for 15 years.
3) If you lose your income, you simply pay the property taxes and public services after 15 years. If you have a 30-year mortgage, you must be absolutely sure you have your income for 30 years.
4) If you make it automatic that the difference in money set aside retirement savings account, having to push all these years is laid, I could be the 30-year mortgage to consider.
5) You want to be a landlord? You have the skills necessary repairs to the house if he needs to perform it?
6) The rent they must all: to cover the mortgage, homeowners insurance on the house itself, property taxes, heating and water (if they form part of the rent), maintenance. It can not the mortgage, or you will spend money anyway.

So, say you’re 25 years old and will have a mortgage. You basically have the choice to the mortgage, if you’re 40, or by the time you pay 55 years old. What would you do?

Note that this is a personal choice that everyone makes. I would like a list of pros and cons of each side (the house is to rent or not) before I did.

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