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15
years vs 30 years Mortgage
With
a 15 year mortgage you will get a lower interest
rate, but a much higher monthly payment. A
30 year mortgage will have a higher interest
rate but the principle is spread out over
a 30 year term. At the end of the loan term,
you will pay significantly more for a 30 year
mortgage than a 15 year mortgage.
1031
Exchange
Internal
Revenue Code 1031 Exchange which allows an
owner to defer paying income tax by trading
one like property for another under very specific
guidelines.
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information. (Real Estate Terms, Investment
Terms, Banking Terms explained, definitions,
legal definitions, legal terms and definitions)
