Mortgage terms were practically always for 25 years but things have changed and now you have a whole host of alternatives. Nevertheless, 25 years was the conventional choice for a reason and that is still the top option in many conditions.
Shorter Mortgages
Because the period of the mortgage decreases the whole amount you must pay in interest will drop. This really is certainly great news.
However, the sum that you're paying every month will probably be higher, meaning you won't have the ability to manage exactly the same size mortgage. Having said that, in case you've picked a property that's...
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