Typically, most mortgages are 30-year mortgages, but you can choose between several term lengths to decide which loan term is ...

When you borrow money, you’ll also pay interest on top of the amount you borrowed.. Interest is the money the lender gets for loaning you the money. Read Next: 5 Subtly Genius Moves All Wealthy People ...

Interest-only mortgages require only interest payments initially, raising future payment amounts. These mortgages suit those expecting higher future income or planning to sell properties soon.