Choosing The Right Mortgage: A Guide To Loan Terms

2023/02/03

1. Loan terms: Most common: 15-yr, 30-yr Also available: 10-yr, 20-yr, 40-yr 2. Fixed-rate vs adjustable-rate: FRM: Offers stability ARM: Might have lower interest rates 3. If planning on living in the home, it’s better to choose fixed-rate. 4. Adjustable-rate mortgages are better for short-term stays.