Get a FREE quote on a 15 year fixed rate mortgage & save thousands of dollars per year.
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 the 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 the 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.
Here's how our home loan process works:
Qualifying for a 15 year fixed mortgage is similar to qualifying for other conventional mortgage programs. Lenders typically look at your credit score, income, debt-to-income ratio, and your assets. Because a 15 year loan has higher monthly payments than a 30 year mortgage, you'll generally need sufficient income and a strong overall financial profile to qualify. It is worth reviewing your specific situation to see if a 15 year mortgage makes sense for you.
Mortgage rates change every day, and your rate will vary based on your credit score, loan program, and other factors. Get your FREE customized rate comparison below:
