Mortgage Options: Which Is Better for Buying a Home?

A fixed-rate mortgage offers stability, but the term you choose can dramatically affect your finances. Here’s what to know before you decide.

Consider your ability to pay as well as other financial obligations you need to meet. Dreamstime/TCA

By Donna LeValley From Kiplinger’s Personal Finance

If you’re in the market for a new home, one of the most important decisions you’ll make—beyond choosing the right location—is selecting the type of mortgage loan that best fits your financial situation.