Get a FREE mortgage quotation for a 15-year fixed rate and annually save thousands of dollars.
Generally speaking, it could be more difficult to qualify for fixed-rate loans than for loans with adjustable rates. When interest rates are low, fixed-rate loans are typically not all that more expensive than adjustable-rate mortgages, and since you can lock in the rate for the life of your loan, they might end up being a better value overall.
This loan has fixed monthly payments and is fully amortized over 15 years. It gives all the benefits of a 30-year loan in addition to a cheaper interest rate and a double-quick time to property ownership. A 15-year loan has the drawback of requiring a greater monthly payment. Many borrowers get a 30-year fixed-rate loan and intentionally increase their monthly payments so that they would finish paying off their debt in 15 years. Since the difference in interest rates isn't very large, this strategy is frequently safer than committing to a higher monthly payment. With resources and knowledge that will aid you along the road, we're here to make the home loan process much simpler for you.
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