A 15 Year Fixed Rate Mortgage gives you the security of predictable monthly payments and an interest rate that won't fluctuate. It also lets you pay your loan off in half the time of a 30 Year Fixed Rate Loan. If that's what you're after, a 15 Year Fixed Rate Mortgage is a very good option.
Maybe you want your home paid off before you start paying for college tuition. Maybe you're thinking about early retirement. Either way, a 15 Year Fixed Rate Mortgage might be the home financing plan to meet your needs.
It fits a lot of situations. First-time homebuyers looking for a first mortgage. Move-up buyers upgrading or changing homes. Homeowners who need to refinance. With a 15 Year Fixed Rate Mortgage, you receive all the benefits of a traditional 30 Year Fixed Rate Loan and more, and you can track where national mortgage rates are heading each week through Freddie Mac's rate survey.
- Security: A 15 Year Fixed Rate Loan allows you to rest easy knowing your mortgage payments will never increase over time.
- Reliable monthly payments: Unlike some other types of mortgages, one of our 15 Year Fixed Rate Loans offers you the ability to know exactly how much your payment will be each month. Another benefit is your interest rate will be lower compared to a 30 Year Fixed Rate Loan, plus you pay off your home loan faster.
- Inflation protection: Regardless of any fluctuations that happen in the market over time, your interest rate will never increase for the life of your loan.
- Faster loan repayment: Along with the added benefit of paying less interest over the duration of your loan, selecting a 15 Year Fixed Rate Loan allows you to pay off your mortgage more quickly. This can be beneficial for homebuyers looking to retire early or wishing to pay off their home’s mortgage before making college tuition payments for their children.
- Building equity: Selecting one of our 15 Year Fixed Rate Loans allows you to build equity more quickly than if you choose a 30 Year Fixed-Rate Loan.
