15 & 20 Year Fixed Rate Mortgages
A 15 or 20 year fixed-rate mortgage offers a lower interest rate than a 30-year mortgage, potentially saving you a significant amount of interest over the life of a loan.
These shorter term loans can help you build up equity in your home more quickly and pay off your home sooner.
- Pay off loan more quickly
- Usually less interest over life of loan
- Loan can be refinanced if rate drops
- Monthly payments are higher than a 30 year loan
- Monthly payment does not change if interest rates drop