What do different mortgage loan terms mean? September 03, 2021 03:23 Updated The term of a mortgage loan is the number of years it will take for you to pay it off and fully own your home. Standard terms are usually 30 years or 15 years, but some lenders will offer terms as short at 5 years or as long as 50 years. Related articles How do I set a mortgage interest rate? How is my home valuation calculated? When should I refinance my house?