First Time Home Buyer Loans

QWhat Are The Advantages Of 15- And 30-year Home Loan Terms?
A30-Year: 1. In the first 23 years of the loan, more interest is paid off than principal, meaning larger tax deductions. 2. As inflation and costs of living increase, mortgage payments become a smaller part of overall expenses. 15-year: 1. Loan is usually made at a lower interest rate. 2. Equity is built faster because early payments pay more principal.