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15 Year Mortgage Rates and Loan Programs
Get started on your search for great 15 yr loan rates
by using the mortgage rate survey below. Be sure to
select 15 yr rates from the product dropdown box.
A
15 year home loan offers the security of a fixed rate
program coupled with the accelerated pay down benefits
of a shorter term product. Although fifteen years
may sound like a long time down the road, you would
be amazed at how much more of your payment gets put
toward principle with this product rather than that
of a 40 year home loan or 30 year fixed rate mortgage
(especially at the earlier stages of the loan). Sure,
your monthly payment will be higher but the amount
of interest paid over the course of the loan will
be significantly less.
Request 15 year mortgage rates and information
(options):
1. Call some of the lenders and brokers in the online
survey.
2. Click on their logos and be taken to their web
sites.
15 Year Mortgage vs a 30 Year Product (example)
15 Year Fixed Rate at 5.50%
$150,000 Loan Amount
Monthly principal and interest payment: $1,225.63
Total interest paid over the life of the loan: $70,612.53
Average monthly interest paid over the life of the
loan: $196.15
30 Year Fixed at 5.75%
$150,000 Loan Amount
Monthly principal and interest payment: $875.36
Total interest paid over the life of the loan: $165,129.34
Average monthly interest paid over the life of the
loan: $458.69
Total interest saved by choosing a 15 Year Fixed Mortgage:
$94,516.81
Note: The numbers above were done using a designated
note rate. Be sure to look at a loan's APR as well
when selecting a mortgage company.
Searching for the Best 15 Year Fixed Rate
ForTheBestRate.com is designed so that consumers can search for some of the
lowest 15 year mortgage rates in the industry. Contact
some of the lenders and brokers listed on this site
and ask for a good faith estimate and truth-in-lending
statement. Best of luck in your search for great 15
year home loan rates.
Other fixed rate products:
10
Year Fixed Mortgage Rate
20
Year Fixed Rate Mortgage
30
Year Fixed Mortgage Rate
40
Year Fixed Mortgage Rate
