Husain, thanks for reading and leaving a comment. For investment property, I prefer 30 year loans for flexibility. You can always pay it off early if you want, but you can't pay a 15-year loan late! Good to own your personal residence free and clear, but debt is a great way to build wealth. Once you are ready to retire, you need to convert that equity to income, either by paying off the loan or selling it and buying something that produces better cash flow (apartment syndications, etc). That's my plan, any ways.