There is something in-between, 20-yr

20-yr rate sometimes is better than 30-yr, depending on lenders.

Main considerations for 15-yr vs 30-yr:

- The rate difference between 15-yr and 30-yr (the smaller, the better to go with 30-yr)

- Total loan amount

- Your "potential" cashflow on this property. You want to at least break even, no matter 15-yr or 30-yr

- The desire to zoom up rental holding quickly - then you want to max. cashflow and use 30-yr.

- Your overall cash/liquidity position to handle unexpected financial/liability hits.

- If you plan to sell the rental in a few years if market goes up quite a bit, or you want to hold it for long term as a cash machine for retirement

- Your very own comfort zone ...