Alternatives to a 10-year Mortgage
- Seattle, Portland, San Francisco
- 2022/12/09
If you’d prefer lower monthly payments, a conventional loan with a longer term, such as 15 or 30 years, could be a good choice. These loans generally come with higher interest rates, which means you’ll pay more in interest over time. You could also consider a loan backed by the FHA, USDA or VA. FHA and USDA loans are generally geared toward borrowers with lower incomes and credit scores as well as first-time homebuyers.
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