10
Year Fixed Mortgage Rates
If you are looking for the security of a fixed rate
mortgage and are planning on paying off your loan
quickly, then a 10 year mortgage might be the right
program for you. 10 Year fixed rate loans tend to
be the lowest of all fixed rate products. You may
also save a tremendous amount of interest over the
life of the loan due to the shortened duration of
the mortgage and rapid pay down of principal. If you
can afford the payments, then we say ''go for it''.
Let's take a look at some of the numbers:
Sample loan comparison between a 15 year fixed and a 10 year fixed rate loan:
For Example:
15 Year Fixed
$100,000 Loan Amount
Note Rate: 5.50%
Monthly Principal & Interest Payment: $817.08
Total Interest Paid Over the Life of the Loan: $47,075.02
10 Year Fixed
$100,000 Loan Amount
Note Rate: 5.375%
Monthly Principal & Interest Payment: $1,079.33
Total Interest Paid Over the Life of the Loan: $29,519.16
Total Interest Saved with ten year mortgage: $17,555.68
As you can see, you could save a considerable amount of money by simply shortening the length of the loan five years.
Request 10 year mortgage rates and program information
(3 options):
-
Call AAXA toll-free at 877-RATE-LOW
(877-728-3569)
-
Research current 10 year mortgage rates using
our AAXA
Mortgage Quote Form
-
Apply using our no cost, no obligation Secure
Online Mortgage Application
10 Year Fixed Mortgage Rate Loan - As an Alternative
to a Line of Credit
People also may want to consider doing a cash-out,
10 year home loan refinance rather than taking out
an adjustable HELOC or a fixed rate stand–alone line
of credit. If you owe very little on your current
loan or have paid off your house in full, then it
may pay to consider the benefits of a ten year mortgage.
First of all, the ten year fixed mortgage will likely
carry a lower rate than the adjustable or fixed line
of credit. Second, you get to feel secure knowing
that your rate will be locked in place for ten solid
years. You can contact AAXA Discount Mortgage at 877-RATE-LOW
(877-728-3569) or apply using our online
mortgage application. You can also check out many
of our lenders’ rates in the Mortgage
Quote Section of this web site.
Other fixed rate products:
15
Year Fixed Mortgage Rates
20
Year Fixed Rate Mortgages
30
Year Fixed Mortgage Rates
40
Year Fixed Mortgage Rates
