First time home buyer in AZ - need advice please? (apartment, mortgage)

[daydreamer33]

My husband and I are moving to Arizona in a couple months and we are trying to figure out if we should do a 15 or 30 year mortgage? We listen to Dave Ramsey a lot on things and he always advises a 15 year mortgage but this is most likely not our forever home and the higher monthly payment with a 15-year scares me. We have lived in AZ previously and have family there but we are considering a move back east down the road eventually but aren't sure. So we may only be in this house for a few years (husband is locked in at his job for at least 2). We've been in a pretty big apartment for over 3 years though and are outgrowing it (kid, etc).

We can put around 40% down on a 260,000 house with a decent amount left over in savings for an emergency fund. We are in our mid-twenties (26ish).

Any advice?

[wase4711]

I'd raise my expectations and budget to at least 300k, if you are looking anywhere in the valley for anything decent..the good thing about a 15 year is you realize equity alot sooner than with a 30 year; the bad thing is if the market crashes and your value drops big time, you wont be happy..

No one has a crystal ball to predict what will happen, and, alot is based on what your cash flow is and how much your monthly nut would end up being..not enough info in your post to really make a valid recommendation..

[BigEinAz]

If it is even remotely possible you’ll move again in two years, just rent.