Should I get a 15-year or 30-year fixed-rate mortgage?
If you’re looking to live in your home for the long haul, then a 30 year mortgage might be the best fit. Keep in mind; however, that even though your payment may be somewhat smaller, the interest rate will be higher and you’ll end up paying more in interest over time.
With a 15 year mortgage, your interest rate will be lower which means you’ll pay your principal off faster and pay less in interest.
To get more information, schedule an appointment with on of our home loan experts.