15 Year Mortgage Rates and Loan Programs

Nice home in the suburbs.
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.
Family with small child in front of home that they bought with a 15 year mortgage.

15 Year Home Loan 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.

View Today’s 15 Year Mortgage Pricing (options):
1. Call some of the lenders and brokers in the online survey displayed below.
2. Click on their logos and you’ll be taken directly to their to their web sites where you can conduct additional research and learn about their companies. Get started on your search for great 15 yr loan rates by using the mortgage rate survey below. Be sure to select 15 year pricing from the product drop down box.

Research Rates and Program Information for other Fixed Rate Products