15 Year Mortgage Loans - part 2

by Ben Afzal

. while the 30 year term will have a payment of $2,098

. the 15 year loan payment is nearly 40% higher.

This is an ambitious loan to have. Over the lifetime of the loan the interest paid is substantially lower.

One method to use the 15 year loan on is to buy a smaller, more affordable property. By reducing your loan size you may be able to adjust to the higher 15 year payment level.

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