Several lenders offer a ten-year mortgage as their lowest available term. This means the mortgages taken out will be paid over the course of ten years versus fifteen, twenty, or thirty, on a schedule of regular payments in uniform size.

While the payments for these loans are much higher than their traditional longer-term counterparts, the interest rates are amongst the lowest available on any fixed-rate loan in the industry.

Here is an example for the different loan options for a $300K mortgage: read more