15 year and 20 year
These loans accumulate equity very quickly. They typically have some of the lowest rates of any mortgage, and are ideal if you can afford the monthly payments. If you are looking to own your home and get the most out of your investment quickly, a 10 or 15 year mortgage is the way to go.
While these loans build equity more slowly and have slightly higher interest rates than 15 year loans, their long lifespan translates to much lower monthly payments. If you plan to be in your home for a long time, a 30 year mortgage may be right for you. These are also a great tool allowing you to invest the monthly savings in other investment instruments like your 401k, a 529 plan for the kids, stocks, bonds, or mutual funds.
To pre-qualify, or for any questions you may have about conventional mortgages, talk to a Blue Water Mortgage broker today.