Author: Arefaine G.-Yohannes

Start Page: 23
End Page: 29
Volume: 3
Issue Number: 3
Year: 1988
Publication: Journal of Real Estate Research

Abstract: Homeowners who are interested in building up equity faster and paying off their mortgages more quickly can get a mortgage with a short-term, a biweekly mortgage, or make additional principal payments. In this article, these alternative fast-pay mortgages are evaluated from the borrower's point of view. Given the assumptions spelled out in the text, the fifteen-year mortgage seems to be the most attractive of the fast-pay mortgages.