Asked by Katie  |  Submitted November 18, 2013

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?

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  Answers  |  1

January 07, 2014

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.



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