Did you know that you can save thousands of dollars with a short-term mortgage? That's because the shorter the length of your mortgage, the less interest you'll pay over the life of the loan. Keep in mind, however, that the monthly payment on a short-term loan will be higher than that of a longer-term loan.
The 360 Degrees of Financial Literacy Web site offers general information for managing personal finances and does not recommend specific financial actions. For financial advice tailored to your situation, please contact an expert such as a CPA or a personal financial advisor.