Deborah Fowles over about.com has a great article which explains why 15 year mortgage should be your choice in long run. A 15 year mortgage can easily save you a sum of money in long rung, which perhaps help you retire earlier.

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Below are the benefits of a 15 Year mortgage:

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1. The interest rate of 15 year mortgage is typically lower.
2. Your build equity much more faster
3. You pay off your mortgage faster

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A table that I extract from Deborah’s article that will show you how much you save from 15 year mortgage

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Financial Planning, Mortgage

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Source : About.com

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