Choosing the right mortgage term is a unique decision for everyone.
Longer term mortgages may appeal to people who desire consistency and want to feel secure about making their payments comfortably for the foreseeable future (for example, ten years). This can also be valuable for those buying for investment purposes, as you can more accurately project future earnings from the property.
Some people may be in the position to pay down a mortgage faster, or are more comfortable weathering the ebb and flow of varying interest rates, and may opt for a shorter term which can save interest dollars over the long run.
By understanding your personal situation, Travelbea & Associates can assist you in choosing the mortgage term which will work the best for you.