Loan Terms – 15 v. 20 v. 30-year – Savings Add Up, But Payments Increase

  • March 25, 2013
  • devinlucas

As you might imagine, a shorter term loan can translate into thousands of dollars saved on interest payments throughout the term.  Lower rates and shorter terms save money for those able to manage the slightly higher monthly payment.  Here’s a graphic showing a $250,000.00 loan; use any loan calculator or consult with your lender to determine the right options for you.

-Devin Lucas

Author Devin R. Lucas is a Real Estate Attorney, Broker and REALTOR®, specializing in Newport Beach, Costa Mesa and Orange County, serving individual, investor and small business interests in real estate.  Active with the Newport Beach Association of REALTORS® and Costa Mesa Chamber of Commerce, Devin R. Lucas Real Estate is an independent real estate brokerage and law practice located in Newport Beach, California.

Devin R. Lucas Real Estate
Real Estate Attorney | Real Estate Broker | REALTOR® | | BRE No. 01912302
949.478.1623 office | 888.667.6038 fax

2901 West Coast Highway Suite 200
Newport Beach | California | 92663-4023

Official Site | Blog | LinkedIn | Facebook | Pinterest | Google + | Yelp | Avvo | Twitter | Zillow |