10-Year Fixed Mortgage: A Loan That Lets You Pay Off Your Mortgage Fast
If you have the resources to afford a larger down payment or a larger monthly payment, you may want to consider a 10-Year Fixed Conforming Mortgage. This is one of the shortest terms available for a fixed loan and allows you to pay off your mortgage fast.
Paying off your mortgage quickly has many benefits:
- Pay less interest over the course of the loan
- Build equity in your home more quickly, and
- Free up money for other uses sooner.
Whether you plan to stay in your home for many years or decide to move on, owning your home outright puts you in a great financial position.