Are 15−Year Fixed Rate Mortgage Right For You?
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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 may offer advantages to a longer duration loan, plus you may get a lower interest rate. 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 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 15−Year Fixed Rate Mortgage Loan 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.