30-Year Mortgage Loans
It used to be the first choice of most borrowers, since the total payments were spread over a longer period of time. The interest rate is set for the entire period of time of the mortgage. 30-Year Home Loan rates are an industry standard. But is it the right Option for you? Today this is the first choice of most home owners. If you have the willpower to invest the savings from your monthly payments, a 30-year mortgage might still be a good option. Especially if you can find an investment whose long term payments equals or exceeds what you would save on a 15-year mortgage. Another matter to consider is how fast you want to build equity in your home. 30-year mortgage loan rates take longer to generate equity. As we mentioned, the lining of a 30-year home loan is the lower monthly payments. This attraction is tempered by the fact that it pays thousands of additional dollars in interest. But, your interest is 100% tax deductible, which reduces your after-tax cost. It offer you flexibilit...