mortgage analysis

Faster Homeownership Unveiling the 15-Year Mortgage

Pay off your home off quicker with lower total loan costs. In a low-interest rate environment, a 15-year fixed-rate mortgage can be a great option to accelerate the paying off or paying down of your mortgage.

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Why a 15-Year Mortgage?

The 15-year fixed-rate mortgage is not a popular loan option, but it’s a favorite of many customers looking to pay off their home quickly. Here are a few of the key reasons you might consider this loan option:

  • You plan to stay in your home for several more years
  • If you like the peace of mind of a consistent monthly mortgage payment
  • If you can get a slight bump in monthly payment, but gain a much lower interest rate, save thousands in interest expense and remove years of mortgage payments
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Do It Yourself Mortgage Analysis

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Questions We Get About 15-year Mortgages

How do mortgage rates work?

Interest rates go up and down, but why? Many assume that mortgage rates are set by each lender somewhat arbitrarily. The fact of the matter is that these rates are market driven and actually rates tend not to vary significantly from one lender to the next.

What will my closing costs be and what am I paying for?
Am I ready to buy a home?
How much house can I afford?
Can I get a mortgage if I am self-employed?