For most buyers, a 30-year mortgage is a first and only option when it comes to borrowing to buy a home. However, whenever it is possible, a 15-year mortgage is the ideal choice for some homebuyers who are able to afford higher monthly payments. As suggested by the timeline in the name, this mortgage gives those homeowners the ability to pay it off in half the usual amount of time. That can be a big burden off of their shoulders and can save thousands, or possibly tens of thousands of dollars of interest…
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