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Why a long-term mortgage may be better for your bank account

Posted at 11:17 AM, Nov 17, 2017
and last updated 2017-11-17 11:17:25-05

When buying a home, many people give advice saying that a shorter mortgage is better than a longer mortgage; get the 15-year mortgage instead of the 30 because the longer mortgage will cost more in interest. But is that really true?

Michael Markey, co-founder and owner of Legacy Financial Network, explains how a longer mortgage could be better for your bank account in the long run.

For more information on how you can fireproof your finances, visit www.legacyfinancialnetwork.com or call 1-855-LFNETWORK.