Many people have become successful by standing out and going against the herd. Homeowners may achieve similar success by taking the same approach.
Only 1% of new mortgages fall into the “other” category, which includes the rarely used 20-year mortgage. The overwhelming majority of homeowners go the more standard 30-year route.
In the video segment below, Motley Fool analysts Nathan Hamilton and Kristine Harjes discuss three reasons a 20-year mortgage may be best for new homebuyers and refinancers alike.