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.

First Name* Last Name* Email* Phone Question / Comments Are you working with a sales agent? Enter the code:    Please wait...