Buying Highlands NC real estate often begs the question, should you get a 15 or a 30 year mortgage. The length of the loan can make a big difference in the overall payments and can make sense for many. Others would prefer to keep their monthly payments as low as possible. The decision is individual and should be based on as much information as possible as there are benefits to both loans.
The clear benefit to a 15 year loan is that your Highlands home will be paid off in half the time of a 30 year loan, which is a goal for many homeowners. This is especially beneficial for those buyers who plan to hold on to a Highlands property for the long term.
The attraction to a 30 year loan is primarily the lower monthly payments. This is more appealing to buyers who either do not plan on holding on to a home for more than 5 or 10 years or those who want to keep their cash more liquid.
Only you know which length of loan works best for you. Contact me, Lynn Kimball, today to learn more about buying Highlands real estate. I can recommend reputable local lenders for you to contact. Let me get you started on your home search and help you locate a property that will suit your needs and your lifestyle.