10-Year Fixed Mortgage: A Loan That Lets You Pay Off Your Mortgage Fast

Posted February 16 2017
by PenFed Team
house with beautiful yard

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.