15 Year Fixed Rate Mortgage
A 15 year fixed rate mortgage
is a terrific home loan option for home buyers who can afford a higher monthly payment and want to reduce the amount of interest they want to pay over the duration of the mortgage. A 15 year fixed rate mortgage often has a lower interest rate than 30 year fixed rate mortgages, which of course, will also stay the same throughout the 15 year period.
A 15 Year Fixed Rate Mortgage Defined
The one major difference between a 15 year fixed rate mortgage and a 30 year fixed rate mortgage is, of course, the length of the loan. However, a 15 year fixed rate mortgage is very similar to a 30 year fixed rate mortgage in that the interest rate will stay the same, allowing for consistent monthly payments and the security of knowing exactly what you’ll pay each month.
15 year fixed rate mortgages are perfect for home buyers who are professionally established and have a high income level or prefer a shorter loan term in order to reduce the amount of interest paid and want a home paid off well before retirement. If you are a home buyer and can afford a higher monthly payment, a 15 year fixed rate mortgage is definitely the home loan option for you.
Why United Home Loans For Your 30 Year Fixed Rate Mortgage?
United Home Loans prides itself on employing a smart and experienced staff that works hard to not only meet, but exceed, our clients’ expectations. Along with a top-notch team of mortgage bankers, United Home Loans will work to get you the lowest mortgage interest rate possible on a 15 year fixed rate mortgage. Call us today at (708) 531-8388 today or simply fill out our Free Mortgage Rate Quote form online to learn more about your home loan options!