What advantage does a 15-year home mortgage have over a 30-year home mortgage?
What will be an ideal response?
The most common mortgage length for an average individual or family is a 30-year mortgage. A 30-year mortgage is referred to as a 'debt mortgage.' While a 30-year mortgage does provide for lower payments and housing access for many individuals, very little of the monthly payment actually goes towards the principal during the first seven years. If you refinance or sell during the first 7 years, assuming minimal growth in property values, a 30-year mortgage is financially similar to renting from the bank. On the other hand, with a 15-year mortgage, you begin to immediately build equity in your house. A 15-year mortgage is referred to as an 'equity mortgage.'
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Which internal control procedure is followed when management authorizes the purchasing department to order goods and services for the company?
a. Segregation of duties b. Safeguarding of assets and records c. Independent verifications d. Proper authorizations
While the early Greek philosophers Plato and Aristotle thought conflict a bad thing which later philosophers thought it a good thing?
a. Thomas Hobbes b. Socrates McSporran c. Karl Marx d. G. F. W. Hegel
The failure of one party to perform a contract entitles the other party to rescind it.
Answer the following statement true (T) or false (F)
Beth's disability income insurance policy provides benefits for accidental death, dismemberment, and loss of sight. The maximum amount payable under this benefit is known as the
A) face value. B) cash value. C) principal sum. D) monthly benefit.