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Nashville News
Local news for Nashville, TN continually updated from thousands of sources on the web.

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Brandon Patrick
Reliant Realty
256 Seaboard Lane E105
Franklin, TN, 37067
Office: 615-724-7071
Cell: 615-578-7507
Lic. #: 257858
Are 40-year mortgages a good idea? | Print |

Are 40-year mortgages a good idea?


Smaller monthly payments are the primary advantage of adding 10 years to the traditional 30-year mortgage, but real estate experts say the shorter-term loan usually is more beneficial for the home buyer. The drawback becomes apparent simply by calculating the cost of additional interest payments, which can total thousands for a few dollars difference in mortgage payments.
Last Updated ( Saturday, 18 July 2009 )
 
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