Posted 11/20/2012 14:08 (#2707668) Subject: Lock interest for 15 or 30 years ??
Buying first farm. I can lock 5.4% for 15 years or 5.9% for 30. 50% chance of having it close to paid for in 15 years and 50% chance might have to stretch it to the full term. By choosing the 15 at 5.4% it would save a little over $10,000 in the first 15 years. I can't see interest going up near term as it would shut everything down. However if they can't get revenue raising interest rates would get it out from the beams and the matresses.