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Most people will tell you that the only way you can afford a home is to get a 30 year mortgage. But when it comes to the 15 vs 30 year mortgage debate, you need to consider more that you situation now. When you get a 15 year mortgage, you will pay off your home in half the time. This means that once your home is paid off, you can devote all of that payment to savings or for retirement. Just think about how much money you could put away. Plus, when you get a 15 year mortgage, you will have a ton of money on interest as well.