For both, as we show you in this video, compared with other options, with fixed rates, housing costs won’t be affected by interest rate changes and inflation.
With A 30-Year Term: In the first 23 years of the loan more interest is paid off than principal meaning larger tax deductions. As inflation and costs of living increase mortgage payments become a smaller part of overall expenses.
With A 15-year Term: Loan is usually made at a lower interest rate. Equity is built faster because early payments pay more principal. And the loan is paid off earlier.
Compare payments, principal and interest totals to make a decision.
TitleTap provides turn-key websites and marketing tools like Video, Social Media Management, and Email Marketing for Title Agents and Real Estate Attorneys. Get more great marketing tips like this specifically relevant to Real Estate, Title Insurance, Mortgage Lending, and Law by subscribing or visiting our blog above.
Latest posts by TitleTap (see all)
- The difference between Google Ads (PPC) and Organic Search Results (SEO) - October 19, 2022
- A practical guide to market your small law firm when you don’t have much time or budget - October 12, 2022
- The 80/20 guide to local SEO for lawyers - September 8, 2022
