New Trend: 20-Year Mortgages
While 30-year fixed rate mortgages are still the most popular term for home loans a new trend of 20-year mortgages is gaining momentum and has become a realistic option for borrowers and especially those refinancing. Basically a 20-year loan term is an option to lower ones interest rate and shorten the term of the loan. This of course results in higher month payments than a 30-year, but with interest historically low the 20 year mortgage has actually become an affordable option. MSN Real Estate has taken a full look at this new trend in home loans so click here and check out the full article to make sure you are choosing the right loan term for you.
Labels: Home Loans, Lending, Mortgages, Real Estate, Spokane Real Estate, Spokane Washington
posted by Leigh Wilson @ 7:47 AM
3 comments
3 Comments:
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