The Difference Between a 15-Year and a 30-Year Mortgage!

To be perfectly honestly – one of the most confusing things for homeowners and home buyers are the differences between 30-year and 15-year fixed mortgages.  Personally, I did not know the difference besides the years until I started writing for this particular blog.

Basically, on any given day, for either one of these mortgages, pricing can go up and down and that is one of the major reasons why having a fixed rate is so great … you know what you are paying every single month.

Shopping for a mortgage is something that is not easy and it is most of the time really confusing.  While you might be considering getting a 15-year fixed mortgage, have you looked into a 30-year?  The difference could really be the premium that you pay every single month, so keep that in mind when you are shopping around.