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🏠 The pros of a 30-year fixed-rate mortgage 🏠

 

✅ Lower payment : A 30-year term allows a more affordable monthly payment by stretching out the repayment of the loan over a long period.

 

✅ Flexibility : You can pay off the loan faster by adding to your monthly payment or making extra payments, but you can always fall back on the smaller payment as needed.

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✅ Predictability: It’s nice to count on your mortgage payment staying the same, no matter how stormy the economy gets or how high the interest rates climb.

 

✅ More house for the mortgage: Lower payments mean you could qualify for a more expensive home.

 

✅ Bigger tax deduction: Current tax laws let home buyers deduct mortgage interest from their taxes. In the early years of a loan, most of your mortgage payments go toward paying off interest, making for a meaty tax deduction.

 

✅ Easier to qualify: With smaller payments, more borrowers are eligible to get a 30-year mortgage.

 

✅ Lets you fund other goals: After mortgage payments are m

 

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👨💻Follow : @directhm

 

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