How does a 30 year mortgage work?
A 30-year mortgage works exactly like any other mortgage, except it will be paid off completely in 30 years, if you make every payment as scheduled. Many 30-year mortgages can be paid off earlier than the length of the full pay-off period, but these loans may involve fees levied on the borrower for early payment. Here at Jovia we do not charge prepayment fees.