Comparing short-term and long-term mortgage options and how to decide which is best for you.
Mortgage Term Considerations
Choosing the right mortgage term is crucial as it affects your monthly payments and overall interest paid.
Short-term mortgages usually have higher monthly payments but lower overall interest.
Long-term mortgages provide smaller monthly payments but accrue more interest over time.
Consider your financial stability, future plans, and market conditions when choosing a term.
Your mortgage term should align with your long-term financial goals and current budget.