I just made an offer for a home for $$800,000$ and need help deciding which mortgage to get. My household income is $$200,000$ per year and I have a car loan that costs $$500$ per month. The property taxes on thew home are $2\%$ per year and the insurance will be around $$4,000$ per year which includes my car insurance. The mortgage broker is offering a $15$ year convention mortgage at $5\%$ and a $30$ year conventional mortgage for $10\%$ and I would make a $20\%$ down payment for either one. What are the pros and cons of each mortgage?