Product Description: 10 Year Fixed

Advantages: If you can make the larger payments, a 10-year fixed home loan is an outstanding way to buy a home and pay less in interest charges. Your principal and interest payments will not change during the life of the loan.

Best Choice: You want to pay less in interest and own your home sooner.

Disadvantages: Monthly payments are higher than a 30, 20 or 15-year mortgage.