Suze Orman: Most people miss out on a simple way to save up to $100,000 on a home

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Suze Orman: Rich people all do this one thing that makes them even richer from CNBC.

When purchasing a new home, more than 90 percent of buyers opt for a 30-year fixed rate mortgage.

This type of mortgage is affordable, flexible and easy to keep track of. Because borrowers are locked into a rate, it’s also a stable option that won’t end up costing more unexpectedly in the future.

But financial expert and former CNBC host Suze Orman says homebuyers are overlooking an easy way to save big. While there’s nothing necessarily wrong with choosing a 30-year mortgage, “I wish more people would take out a 15-year mortgage instead,” she writes in a post on her blog.

When purchasing a new home, more than 90 percent of buyers opt for a 30-year fixed rate mortgage.

This type of mortgage is affordable, flexible and easy to keep track of. Because borrowers are locked into a rate, it’s also a stable option that won’t end up costing more unexpectedly in the future.

But financial expert and former CNBC host Suze Orman says homebuyers are overlooking an easy way to save big. While there’s nothing necessarily wrong with choosing a 30-year mortgage, “I wish more people would take out a 15-year mortgage instead,” she writes in a post on her blog.

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