How To Guide For: Understanding If You Should Consider A 15-Year Fixed Mortgage Or A 30-Year Fixed M

A 15-year fixed mortgage is a loan with an interest rate that stays the same for the duration of the loan. A 15-year fixed mortgage is great for people who can deal with higher monthly payments but prefer a shorter loan term. A pro to the 15-year fixed mortgage is that the rates are usually lower than the 30-year fixed mortgage. A pro to the 30-year fixed mortgage is that you can make affordable payments that won't change over the life of your loan. Many first home buyers opt to go with the 30-year fixed mortgage. There are many pros and cons when considering which mortgage type is best for you. To learn more on which mortgage type to choose a 15-year or a 30-year -- click the pictures below to read the articles.