When it is time for you to find a mortgage loan
that works best for you, a 15-year fixed mortgage could be the answer. This mortgage loan's interest rate does not change, is fully amortized over a defined period of time and is paid in-full at the end of the loan term. The shorter the term, the faster you build equity and the loan is paid off.
When you choose a 30 year fixed mortgage, you are choosing a mortgage loan you can trust not to change. For 30 years, you will pay the same principle and interest rate and at the end of the term, your loan will be paid in-full.