15 Year Fixed Loan
What is a 15 Year Fixed Rate Mortgage?
This type of loan is traditionally the lowest cost loan product available for a home purchase, as it helps you reach full homeownership in a shorter period of time. A 15-year mortgage takes half as long to pay off as a 30-year mortgage.
Because this loan type is a “fixed rate” mortgage, the interest rates do not change. A fixed interest rate gives you peace of mind that your rates won’t go up in the future.
Benefits to this loan option include:
- Half the time it takes to achieve full homeownership
- Reduced interest expense
- Fixed interest rate
- Allows you to build equity faster
- Helpful if you plan to retire within 30 years
Before getting a 15-year fixed loan, you will need to be pre-approved by a mortgage lender. Getting pre-approved can help you (a) figure out your price range, (b) make yourself stand out as a serious buyer to realtors and sellers, and (c) speed up the closing process.
Though 15-year fixed loans offer a lower interest rate (compared to 30-year mortgages), they do require higher monthly mortgage payments.
15-year mortgages can be used for:
- Both purchasing and refinancing
- Conventional mortgages
- Government-backed loans (such as FHA mortgages)
Overall, if you can handle the higher monthly mortgage payments, then a 15-year fixed mortgage may be a good option for you. Advantages to this type of loan include an interest rate that stays the same, and the ability to achieve full homeownership in a shorter period of time. Speak with a mortgage professional to see if a 15-year fixed loan is right for you.
HOW IT WORKS
Your All-In-One Mortgage Growth Machine
Exclusive Leads
Ad campaigns backed by $1.5M in annual data to attract your ideal borrowers (while filtering out the low-quality leads).
Appointment Booking
Your exclusive, warm leads will self-book appointments in your calendar. We send out reminders 24 hr, 1 hr, and 15 mins beforehand to keep your leads on track.
Lead-To-Client Journey Automation
Our all-inclusive automations streamline the entire journey from lead to funded loan (and beyond!)
Nurture
Trust-building home buyer videos & guides. These done-for-you educational resources will get your leads to know, like, and trust you - before they even speak with you!
How Much Can You Save?
In some situations, you may pay less money per month to rent a home rather than paying the mortgage on a home. However, when you purchase a home, you will gain benefits you don’t have access to while renting. Over time, being a homeowner will save you more money and you will also have a solid investment. True Partner Mortgage is here to help you get the best deal possible when you decide to purchase a home. We may be able to get you grants, vendor discounts, or first-time homebuyer credits.
Our Personal Guarantee.
We understand that buying a home for the first time can be intimidating. That’s why we promise to work with you and stand by you each step of the way. We’ve done all the legwork, and we know what needs to be done. We can provide you with the advice and guidance you need to find and purchase a home quickly and affordably. That’s our promise.
Stop Renting & Find Your New Home Today!
Your hard-earned money should be going into an investment in your future, not lining a landlord’s pockets. Get in touch with our team right away to get started on your home owning future.
Our renter home loans, rent to own homes, and a wide range of vendor discounts can make it all happen! Don’t have money for a large down payment? You have a range of options, including lease to own homes. Contact us today and allow us to help you find the home of your dreams.
