video: Fixed-Rate Mortgage Advantages

 

For both, as we show you in this video, compared with other options, with fixed rates, housing costs will not be affected by interest rate changes and inflation.
With A 30-Year Term: In the first 23 years of the loan more interest is paid off than principal meaning larger tax deductions.
As inflation and costs of living increase mortgage payments become a smaller part of overall expenses.
With A 15-year Term: Loan is usually made at a lower interest rate.
Equity is built faster because early payments pay more principal.
And the loan is paid off earlier.
Compare payments, principal and interest totals to make a decision.

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