Best 10-Year Mortgage Rates | April 2021
Mortgages with 10-year terms are relatively rare. Most people opt for 30-year mortgages, which let them secure low monthly payments. The drawback of a long-term loan is that it leaves a lot of time for interest to accrue on the loan, so you'll wind up paying a huge bill over the life of the loan. You can save a lot of money in mortgage interest if you choose a shorter term.
A 10-year mortgage can be a smart way to finance your home. Mortgage rates typically change as you adjust the length of your loan, with shorter loans having lower rates. That means that a 10-year mortgage can help you save money over the long run. However, because the term is shorter, your monthly payment will typically be higher.
Here is SuperMoney's list of the best mortgages lenders with 10-year mortgage rates.