Not many people can pay cash for a house these days. According to Zillow, the median home sale price in the United States ending October 2018 was $225,900. You are going to need a piggy bank the size of a house for that.
For most people, buying a home means taking out a mortgage. The two most common mortgage terms are 15-year and 30-year fixed rate mortgages. This brings us to the question of which should one go with that makes the most financial sense.