
What Are the Benefits of Having a 40-Year Mortgage?
A 40-year mortgage is exactly what the name implies–a home loan was made to be paid off after 40 years rather than the more conventional 30- or 15-year terms. 40-year home loans are far more popular in high-interest-rate environments, according to Michael Larson of Bankrate.com, and they’re accompanied by some dangers that should be considered…