If that were the case, lenders would only offer 30-year loans. It is true that 30-year mortgages guarantee the lowest monthly payments. However, 30-year mortgages do not offer the best lending terms. You will spend more money over time because it equates to a greater amount of interest and a shorter amount of principal paid at each payment. Shorter term loans, at 15 years for example, have higher payments, forcing more money to principal sooner. Considering your lending options and getting educated will help you make smarter lending decisions. Ask us how.