15-Year Fixed Rate Mortgage
Get a No Obligation quote on a 15-year fixed rate mortgage & potentially save thousands of dollars per year in interest paid
The Lowdown on 15-Year Fixed Rate Mortgage…
Understanding a 15-Year Fixed-Rate Mortgage
A 15-year fixed-rate mortgage is a home loan where the interest rate remains constant for the entire term of the loan, which is 15 years. Here are the key features and benefits:
- Constant Payments: With a fixed interest rate, your monthly payments will remain the same throughout the loan term, making it easier to budget.
- Shorter Loan Term: Compared to a traditional 30-year mortgage, a 15-year mortgage allows you to pay off your loan in half the time, which can save you a significant amount in interest over the life of the loan.
- Lower Interest Rates: 15-year mortgages typically offer lower interest rates than 30-year loans, which can lead to even more savings.
- Equity Building: Since you’re paying off the loan faster, you build equity in your home more quickly, providing greater financial security.
A 15-year fixed-rate mortgage can be a great option for those who want to pay off their home sooner and save on interest costs. However, it’s important to consider that the monthly payments will be higher than those of a 30-year mortgage, so it’s essential to ensure that it fits within your budget.
The 15-Year Fixed Rate Mortgage Loan Process
How Our Home Loan Process Works:
- Complete Our Simple 15-Year Fixed Rate Application: Fill out a straightforward application to get started.
- Receive Tailored Options: Based on your unique criteria and situation, we’ll provide customized loan options for you to consider.
- Compare Mortgage Interest Rates and Terms: Review and compare different mortgage offers, focusing on interest rates and terms to find the best fit.
- Choose the Offer That Best Fits Your Needs: Select the mortgage option that aligns with your financial goals and requirements.
Benefits of a 15-Year Fixed-Rate Mortgage
A 15-year fixed-rate mortgage is an excellent choice for homeowners who want to pay off their mortgage sooner and save on interest costs. By opting for this shorter loan term, you can build equity more quickly and reduce the total interest paid over the life of the loan.
However, it’s important to note that the monthly payments for a 15-year mortgage will be higher than those of a 30-year mortgage. Therefore, it’s essential to ensure that these payments fit comfortably within your budget before making a decision.
- Fixed Rates
- Conforming Loans
- Jumbo & Super Jumbo Loans
- FHA, VA, & USDA Loans
- Terms from 5 to 30 Years
