Evaluating Alternative Fast-Pay Mortgages

Arefaine G.-Yohannes ()
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Arefaine G.-Yohannes: Dearborn School of Management University of Michigan-Dearborn 4901 Evergreen Road Dearborn, Michigan 48128-1491, http://www.som.umd.umich.edu/index.html

Journal of Real Estate Research, 1988, vol. 3, issue 3, 23-29

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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1988
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