When you open a mortgage, your loan originator will help you choose an amortization period

Date: November 20, 2021 | Category: get loan on motorcycle with title no inspection

When you open a mortgage, your loan originator will help you choose an amortization period

The length of time you will make payments on the loan to pay it off. And while you may think you have to choose a 15-year or 30-year mortgage term, because those are two very common options, you may want to consider a 40-year mortgage.

A 40-year mortgage is not ideal for everyone. It takes longer to build equity and you will likely pay more in interest over the life of the loan. But, depending on your circumstances, it might make sense for you. Read some of the potential benefits below and see for yourself.

Benefits of a 40-Year Mortgage

A mortgage loan amortized over 40 years may be the right choice if you:

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