Buying a home has become increasingly difficult due to limited inventory and elevated prices. The median U.S. home cost $407,000 in July, so a $300,000 home would be 25% less, but the monthly mortgage payments could still be difficult to afford. For a $240,000 loan balance with a 20% down payment, the average 30-year mortgage rate would be $1,625 a month and a 15-year loan would be $2,091 a month. The 15-year loan would save almost $209,000 in interest, but it may be a stretch to afford the extra