I thought mortgages had to be 30 years long, but I’ve heard of 10-year and 15-year mortgages. What are the advantages and disadvantages of shorter timeframes?

Asked by Katie

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Answered by Nic Netherton, Mortgage Broker in Fort Collins, CO
Two advantages. The first being you pay off your house faster, the second is that shorter term loans generally have lower interest rates than 30 year mortgages.



| 01.07.14 @ 20:57
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$commenter.renderDisplayableName() — {comment} | 12.03.16 @ 00:19
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Answered by

Nic Netherton
Nic Netherton, Mortgage Broker in Fort Collins, CO

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