Is a fixed-rate mortgage right for me? If you plan
to live in your home for 7 years or more and you
prefer a consistent monthly payment, a fixed-rate
mortgage may be your best choice, depending upon
your overall financial goals.
The
most popular fixed-rate terms are 15 and 30 years.
The 15-year mortgage term allows you to pay off
your mortgage loan more quickly, with less interest,
while the 30-year mortgage term offers lower monthly
payments. Fixed-rate mortgages may be used for the
purchase or refinance of your primary residence
or second home.
American
Financing
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What
do the experts say?
