| Fixed Rate Mortgages |
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15 year mortgage You pay off a 15-year fixed-rate mortgage in half the time it would take you to pay off the traditional 30-year fixed-rate mortgage. This shorter term makes it possible for you to build up equity in your home faster, which can let you move up more quickly to a more expensive home or save more in preparation for retirement or a child's education. This loan is particularly attractive if you're refinancing your mortgage because you can shorten your loan term plus enjoy a lower interest rate. Click here to find out more... 30 year mortgageChoosing a traditional 30 year fixed rate mortgage allows your mortgage rate and payment to remain the same, regardless of how high interest rates rise. A fixed-rate and payment make it easy to budget your finances and avoid the risk of rising mortgage rates. Click here to find out more... 40 year mortgage The primary advantage of a 40-year fixed-rate mortgage is making monthly payments more affordable without taking on the risk of an adjustable rate. In addition to buyers in high-cost areas, the 40-year fixed mortgage also appeals to buyers with small down payments. Reducing the monthly payments on large loan amounts is accomplished by stretching the repayment term by an extra 10 years. |