South State Bank

• 15-Year: Lower interest rates, pay off loan faster, higher monthly payments.
• 30-Year: Lower monthly payments, more flexibility for investments, higher interest rates, slower equity growth.
• Advantages (30-Year): Predictable payments, tax deductions, potential for investment growth.
• Disadvantages (30-Year): Slow equity build-up, higher interest paid over time.

Adjustable-Rate Mortgages (ARMs): Better for short-term stays (under 7 years), as interest rates adjust over time.