mortgage

Save with a shorter-term mortgage

 

 

Because interest rates are at or near rock bottom, short-term loans have become more affordable for many borrowers.

Those who currently have a 30-year mortgage with an interest rate of 6 percent or higher may be able to refinance into a 20 or 15-year loan while keeping their monthly mortgage payments close to what they pay now. Consider this option even when the short-term loan means slightly higher monthly payments. This is your chance to pay off your mortgage quicker.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Tara Baukus Mello

AAA survey: American drivers don’t trust car repair shops

Two-thirds said they distrust car mechanics, citing overcharges, recommendations for unnecessary services and previous bad experiences with repair shops.  ... Read more


Connect with us