i am buying a house for $405,900. Assuming i purchase the home at full price; you have 20% of the home cost as a down payment. This means my mortgaging 80 % of the total cost of the home ($324,720). i have the option of financing with wells fargo for a 30-year fixed loan for $2,052.45 monthy, and 15-year fixed loan for payments of $2,696.51 monthly. The monthly payment for the 15-year fixed loan is $644.06 more than the 30-year fixed loan and I would save $253,510.20 if I qualified for the 15-year loan. Which of the two loan options would you choose and why? Take into consideration more than simply the end result. For example: Will you have a car payment or other loan payments? What is the median income for a person who is working in your career of choice? How much of your monthly income will be left after paying the monthly payment for each situation in (5) and (8)? What other expenses will you have now or during the 15/30-year length of the loan? This could be things like childcare, savings for retirement, home repairs, vacations, or Medical bills