Advantages and Disadvantages of a 15 Year Loan

Advantages:

  • Borrowers build equity much more quickly due to shorter amortization schedules.
  • Overall interest paid is dramatically lower than those on longer-term loans.
  • Interest rates are lower than 30-year loans.

Disadvantages:

  • Monthly payments can be significantly higher than those on 30-year loans.
  • Restricts homebuyers to smaller houses than they might be able to afford with longer-term loans.

For complete mortgage loan program details and to find out if you qualify, contact us today at 888-488-3807 or go to www.OneTrustHomeLoans.com.

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