The 15 year fixed rate mortgage is our second most popular program (after the 30 year fixed rate mortgage). With a 15 year fixed rate mortgage you pay a lower interest rate and build equity more quickly than you would for a longer term fixed rate mortgage. The interest rate and monthly payments remain constant and fully pay off the loan in 15 years.
The downside of the 15 year fixed rate mortgage is that the monthly payment is considerably higher that on the longer term fixed rate mortgage programs. However, if you can afford the higher payments, the interest savings over the life of the loan are considerable.
We offer a wide range of fixed rate mortgage programs, from ten years all the way up to thirty. Visit our specific fixed rate program pages to see how each can benefit you!