15 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
A 15-year fixed mortgage is a home loan with an interest rate that stays the same over a 15-year period.
The Lowdown on 15-Year Fixed Rate Mortgage...
Our 15-Year Fixed Rates Are Low & Our Process is Quick & Painless
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate and you’ll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn’t that great.
We’re here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE 15-Year Fixed Rate Mortgage Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
The Home Refinance Process
Here’s how our home loan process works:
Complete our simple 15-Year Fixed Rate Mortgage Qualifier
Receive options based on your unique criteria and scenario
Compare mortgage interest rates and terms
Choose the offer that best fits your needs
Do I Qualify?
As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
Long-term savings: 15-year mortgage rates are typically lower than 30-year mortgage rates.
Faster accumulation of home equity: By paying back the loan’s principal faster, you’ll build equity sooner in your home.
Free and clear, at an earlier point: If you’re approaching retirement — or thinking of early retirement, paying off your home in 15 years instead of 30 is certainly appealing.
Larger monthly payments: A loan term that’s half as long means your monthly payments will be larger than they would be with a 30-year mortgage.
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