10 or 15 year mortgage with principle payments?

[Karen Ann girl]

Is it better to have a higher mortgage payment (10 years and put principle payments on or lower payment for 15 years and put the more extra money on principle which do I save the most intrest money on 100000.00 loan?

[brunt]

The amortization period does not really matter in the end.

All that matters is to minimize interest costs and to maximize repayment amount to the extent that is prudent.

Remember, we are at a one in a multiple generation low in interest rates. This is a gift to be used to pay down debt as quickly as you can. Don't join the flock of sheep and use it as an excuse to increase your debt since the payments are so easy to handle.