Evaluating Alternative Fast-Pay Mortgages
Homeowners who are interested in building up equity faster and paying off their mortgages more quickly can get a mortgage with a short-term, a biweekly mortgage, or make additional principal payments. In this article, these alternative fast-pay mortgages are evaluated from the borrower's point of view. Given the assumptions spelled out in the text, the fifteen-year mortgage seems to be the most attractive of the fast-pay mortgages.
Volume (Year): 3 (1988)
Issue (Month): 3 ()
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