Why Are Mortgages Usually 30 Years Long?

You've scrimped, saved, and spent more time on Zillow than you'd care to divulge, and you're ready to add "homeowner" to your list of accomplishments. Now, to choose the right mortgage for you. When it comes to fixed-rate loan programs, there are several options--from five to 50 years. But it's the 30-year mortgage that's been most popular among Americans for decades.