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See what's happening with home values in more than 400 metropolitan areas with HSH's Home Value Tracker, just updated though the second quarter of 2022.

See what's happening with home values in more than 400 metropolitan areas with HSH's Home Value Tracker, just updated though the second quarter of 2022.

Is there a ten year refinance mortgage out there?

HSH Editors Image

Almost any lender that offers a fixed-rate mortgage will offer a 10-year mortgage. Mortgage rates for a 10-year mortgage usually aren't any better than the rates offered for a 15-year mortgage. That said, be sure to shop around to find a competitive rate, and don't forget to include local portfolio lenders in your search. Getting a fixed-rate mortgage with a term as short as 10 years will save you a lot of money on interest costs, but if the higher monthly payment makes it too difficult to qualify, you might also consider taking a 15-year term and prepaying your mortgage when your finances permit doing so.

 

 

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