What is a 15 Year Fixed Mortgage
Today we continue our series on mortgages. What mortgage is the right mortgage for you? Do you understand the differences? If you don’t and you get the wrong mortage, it could cost you thousands of dollars and even make you lose your house.
15-year Fixed Mortgage is it the right mortgage for me?
15-year mortgage will save you a lot in interest over the life of the loan, because you pay interest only half as long. The only disatvantage with a 15-year Fixed Loan is that although the interest rate is lower, monthly payments are higher than a 30-year mortgage.
What is the best mortgage for me?
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