15-Year Fixed Rate Mortgage
The Lowdown 15-Year Fixed Rate Mortgage...
Do I Qualify?
Qualification requirements for a 15-Year Fixed Mortgage are similar to other home loans but may be slightly stricter since monthly payments are higher. Lenders will review:
- Credit score and history
- Income stability and employment
- Debt-to-income ratio
- Down payment and assets
If your income supports a higher monthly payment, a 15-year term could help you save tens of thousands in interest over time.
Our 15-Year Fixed Rates Are Low & Our Process is Quick & Painless
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 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 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.