40-Year Mortgage: Understanding the Pros and Cons

When it comes to mortgage loans, the longer the timeframe for pay-off, the lesser the monthly payment. For many years, 30 years was the maximum, but recently more lenders have been willing to offer 40-year loans. Are these loans smart to take on, though? Read on to learn the pros and cons.

Image via Unsplash/Tierra Mallorca

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