15-year Fixed Purchase Rate and Fee Quote

A 15-year fixed rate is a great option for homebuyers who have specific plans to pay their home off one day. And while the 15-year fixed rate loan has a higher payment, it will save you tens of thousands of dollars compared to a 30-year fixed loan. The 15-year loan can also be paid off faster than 15 years, for those really ambitious homebuyers.

The primary advantage of the 15-year loan is the lower interest rate. The 15-year fixed rate is typically a full percent lower than the 30-year fixed rate, saving you even more money.

Choosing a rate with little or no fees is a smart idea if you are purchasing your home in an environment where mortgage rate prices are going down. The logic behind choosing a no-fee rate is that you can refinance again if rate prices drop a few months later.

However, paying some closing fees to secure an even lower rate is often the best choice when buying in a market where mortgage rate prices are stable or increasing. Investing in a lower rate upfront can save thousands and thousands of dollars in the long run.

Many homebuyers, who have secured 30-year fixed loans to purchase their home, have shared the same experience of purchasing with plans to upgrade their home in three to five years, only to find themselves enjoying the same home eight or nine years later. They also discover that their home as well as other home values have skyrocketed over the past eight or nine years, making the idea of moving to a new home much less attractive – they would have only had five to seven years left to pay off their current home had they secured a 15-year loan when they purchased the home. It’s something to consider.

Use the quick form on this page to get a custom quote that is totally anonymous. The quote includes closing fee estimates, interest rate options, and monthly payments. No personal information needed. No talking to a mortgage salesperson. Just the facts and figures.

Click the “APPLY NOW” icon below when you are ready to apply for a loan.