Choosing the right mortgage is crucial for your financial well-being. It is a major decision that will impact your life for years to come. There are several factors to consider when selecting a mortgage, such as the interest rate, loan term, and down payment requirements.

One of the key aspects to look at is the interest rate. A lower interest rate can save you a significant amount of money over the life of the loan. It's essential to compare rates from different lenders and understand the implications of fixed-rate versus adjustable-rate mortgages.

Another important consideration is the loan term. Shorter loan terms lead to higher monthly payments but allow you to pay off the mortgage faster and save on interest. On the other hand, longer loan terms result in lower monthly payments but can lead to more interest paid over time.