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The pros and cons of taking a 40-year mortgage | USNewsRank.com

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Rob was able to pay off his $400000 mortgage in just 7.5 years, The downside to this amazing townhouse was that the only way that I.. In comparison, my mortgage rate, including the tax benefits, would. And you said you were making a little over $40k a year but were able to save 80k in 2 years.

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The term is usually between 5 and 7 years. After the. The advantages of having an interest only mortgage loan are:. Disadvantages of Interest Only Loans.

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These loans have repayment periods of 40 years (480 months) or even 50. With an interest-only mortgage, the borrower has the option, during the initial. If you' ve weighed all the pros and cons, and still want to pursue a.

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