Benefits
Lower Money payments
Your monthly payments will be lower because they’ll be spread out over a longer period.
Fixed Interest Rates
Your interest rate is fixed, so you never have to worry about your mortgage payment changing if rates go up (except for any changes in taxes and insurance).
Low Down Payment
Your interest rate remains fixed for the life of the loan, so you don’t have to worry about rates going up.
No Prepayment Penalties
Want to pay off your mortgage early? No problem. You won’t get hit with prepayment penalties.