Is a shorter or longer term preferable for buyers?

Longer term which provides lower payments.

All about your personal preference. a 30-yr term will give you lower payments, but you'll pay a ton in interest. A shorter 15-year term clearly saves a bunch of interest, but the payment will be a lot higher. Which one works best for you? Also, have you though something in the middle, like a 20-year term? I lend in MN IA WI ND and SD. I can be reached at JoeMetzler.com. NMLS 274132