15−Year Fixed Rate Mortgages are at record lows!
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Understanding the 15−Year Fixed Rate Mortgage...
Our 15−Year Fixed Rates Are Low & Our Process is Quick & Painless
A 15−year fixed period loan is fully amortized while featuring constant monthly payments that are the same amount. Advantages include shorter amortization term, savings on total interest paid vs a 30-year fixed plus you may get a lower interest rate. That said, a 15−year loan does come with a higher monthly payment. As a result, many borrowers take a 30-year fixed-rate loan while voluntarily making additional or larger monthly payments designed to pay off their loan in 15 years. Going with this approach could reduce stress associated with committing to a higher monthly payment, since the difference in interest rates isn’t that great.
As your Lender, we are here to ensure the home mortgage process is less intimidating by providing support and understanding designed to help guide you along the way, starting with our 15−Year Fixed Rate Mortgage Searcher.
Our process helps with understanding by explaining differences between various loan programs. This proactive approach now allows you to select the ideal loan program for the first-time home or seasoned investor.
Standard Process for the 15−Year Fixed Rate Mortgage
Do I Qualify?
Generally, it can be more difficult to qualify for fixed rate loans than for variable rate loans. When interest rates are low, fixed rate loans are usually not much more expensive than adjustable rate mortgages and can be a better deal in the long run because you can lock in the rate for the duration of your loan.