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Is a 20-Year Mortgage Right For you?

If you’re like 90% of homeowners, you’re going to choose the 30 year mortgage… but what if don’t want to spend the next 30 years of your life paying down a mortgage and payments for a 15-year mortgage is way too high?  There is actually something called a 20-year mortgage that allows you to get a little bit of the best of both worlds. Pearl Hawaii’s 20-year mortgage loan option provides benefits over other mortgage loan types.

Why a 20 Year Mortgage?

  • The interest rate is much better than a 30 year loan
  • You pay less interest during the lifetime of the loan
  • The monthly payments are more affordable than a 15 year mortgage
  • The amortization follows more closely to a 15 year than a 30 year
  • Pay off your house quicker
  • Keep up with your retirement goals. Who wants debt when they actually retire?
  • You will be a home owner 10 years sooner.
  • Payments are affordable

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