Yes. The 40 year is becoming a more palpuor product these days. The difference between the 30 year and the 40 year are not huge, but there is a difference. If you plan on staying in the home for the full term, I would go with the 30 year or even less. However, if you are only going to be in the home for a short amount of time, finance it for as long as the bank will allow. The nice thing about the 40 year is that it gives you the security of knowing your rate is fixed while giving you some savings at the same time, unlike an adjustable that is only fixed for a period of time. Below is an example of the 40 year vs. the 30. you can judge for yourself if it's for you or not based on the amount of time you're planning on being in the property.Example: 300k loan amount at 6.75% over 30 years = 1945.79 pmt (PI)300k loan amount at 6.75% over 40 years = 1810.07 pmt (PI)The difference in this example is 135.72 per month. I hope this helps, and good luck.