Make your dream home a reality in less time.
If you have the finances to afford a larger mortgage payment each month, consider a shorter-term, 15-year fixed-rate loan.1 Interest rates are often lower, and you’ll be able to pay off your home loan in half the time of a typical 30-year fixed-rate mortgage, ultimately saving you more money in interest over time. That means savings you can use for other important milestones—like college and retirement.
FEATURES YOU'LL LOVE:
- 15-year mortgage rates are often lower than 30-year fixed rates
- Own your home faster
- Principal and interest won’t change over the life of the loan
- No prepayment penalties
- Easy online mortgage application
Let’s create a home loan plan together to help you reach these financial goals.
Budget better and build equity faster with a 15-year fixed-rate.
With a 15-year fixed mortgage, your payment is amortized over the term of the loan so that your monthly payments toward the principal, interest, and escrows (if required) are calculated to pay off the loan at the end of the loan term. This means you will enjoy the same interest rate and monthly payment over the life of your loan, making budgeting easier. Paying off your mortgage faster also helps build equity faster by paying down the principal balance, putting more money back in your wallet should you sell your home.
For more information on home loans, visit our Mortgage Information Center.