Pros and Cons of a 15-Year Mortgage


A 15-year mortgage loan is much better than a 30-year loan. If you want to save some money, then choosing a 15-year mortgage loan will be helpful for you because you don’t have to pay extra money as an interest for the loan amount. This type of loan will help you complete your home loan much faster. However, the monthly payment for this kind of loan will be slightly higher than a 30-year loan because you’ll be completing your loan in half of the term than a 30-year loan. Having a 15-year mortgage loan as a fixed-rate will help you to clear the loan in 15 years. However, if your income is not consistent, then avoid this type of mortgage. This blog provides valuable information about the pros and cons of a 15-year mortgage.
To learn more, please visit: https://www.drewmortgage.com/15-years-mortgage-pros-and-cons/

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