A 20-year home mortgage can save you money

Source: Michele Lerner, Washington Post (Paid Registration)

The 30-year fixed-rate home mortgage dominates the housing market, particularly for first-time buyers who appreciate the ability to extend their home loan payments for the longest possible term. The second most common fixed-rate loan term is 15 years, but many lenders also offer loan terms of 10 or 20 years. 

Here are four reasons to consider a 20-year mortgage.

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