If you are shopping for your dream home, then you probably are also shopping for a mortgage.  Most first-time homebuyers opt for a 30-year fixed-interest mortgage for two reasons.  The first is predictability – with the fixed interest rate they know what their payments will be for the life of the loan.  The second advantage are lower monthly payments – by amortizing the loan over 30 years it lowers the payments to something more reasonable for first-time buyers.  However, other mortgage terms may be more attractive to some buyers.  For more information read, “Considering or Dreaming About Buying a Home? How to Pick the Best Mortgage Rate for You.”