[Prometheus]

college education? Or try to pay off my mortgage in 15 years? I can get a 15 year fixed mortgage for around 4%, my current rate is 5.785%. I now pay $2,000/mo which includes a $550/mo real estate tax escrow. If I refi. to the 15 year mortgage my total mortgage with escrow will be approx $2,300/mo. I am about to pay off my only car loan which is $300/mo so I can comfortablely afford $2,300/mo.But I won't have as much to save for my 2 kids (7 mos. and 21 mos.) for college.I could refi. at around 4.25% for a 30 year loan which would make my monthly pmt $1,700 with escrow.So should I try to pay my house off ASAP so I don't have a mortgage by the time they go to college, or do a 30 year fixed, and save that extra $600/mo for the education?I figured I could invest in a 503b or something with that money. Unless there are better options to invest/grow/save for their college education. I am 37 now, so if I pay off my house with a 15 year loan I will be 52. I can still save some money for college for them every month with a 15 year loan, $100-$200/mo, but not $500-$600/mo I could do with a 30 yr fixed.Thanks.I am 5 years into my 30 year fixed mortgage.The refi will cost $3,000 according to my mortgage guy I can tack on to the loan, or pay it up front, but I'll most likely just tack it on.Please don't SPAM me with lenders. I am all set there, will ignore you, and report your spam as abuse. Thanks.

[The Son of Rage and Love]

You are much better off with a shorter term mortgage, and save as much as you can. You will have saved tens of thousands in interest you would have paid on a 30 year over that extra 15 years.