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10 Year Mortgage Loan
A 10 year mortgage is almost an achievement in itself. It's the biggest and best of all the mortgages available because it's paid of the fastest and cheapest. If you can afford the 10 year loan I highly recommend it. You will be very happy with the results.
Use a calculator to figure out the difference in monthly payments between the 30 year and the 10 year mortgage. You will see a drastic change that pays off your mortgage 20 years faster. The higher monthly payment is the main reason everyone avoids this loan.
Maybe more people should think about getting a 10 year loan that they can afford rather then looking straight to the 30 year fixed rate as a starting point. The mortgage is much more affordable but the interest you pay is very high.
Use these numbers in a mortgage calculator
$200,000 6% Interest Rate
30 year Mortgage Interest - Total $231,600
10 Year Mortgage Interest - Total $66,500
That's exactly what I was talking about when I said it would be a dramatic difference. The problem is that the mortgage payment is just under double the 30 year mortgage so it's very hard to afford. You could even afford a second home and rent it out for way cheaper.
It's very easy to save on your mortgage payment if you use a mortgage calculator to help you with your monthly payment. As you can see above it will save you a lot of money. | 
