15-Year Fixed Rate Mortgages
Get a quick quote on a 15-year fixed rate mortgage & save thousands of dollars per year.
Unlock Your Financial Future with a 15-Year Fixed Rate Mortgage!
Do I Qualify?
Qualification requirements for a 15-Year Fixed Mortgage are similar to other home loans but may be slightly stricter since monthly payments are higher. Lenders will review:
- Credit score and history
- Income stability and employment
- Debt-to-income ratio
- Down payment and assets
If your income supports a higher monthly payment, a 15-year term could help you save tens of thousands in interest over time.
Why Choose a 15-Year Fixed Rate Mortgage?
A 15-Year Fixed Mortgage offers lower interest rates compared to longer-term loans, while ensuring your payment stays constant for the entire term.
Homeowners often choose this loan to:
- Save on interest by cutting the loan term in half
- Build home equity faster
- Become mortgage-free sooner
- Lock in a stable rate for long-term financial security
While monthly payments are higher than a 30-year loan, the overall savings and faster path to full ownership make this option attractive for many financially stable borrowers.
The 15-Year Fixed Rate Mortgage Loan Process
Here’s how our 15-Year Fixed Rate Mortgage Loan Process works:
- Check Eligibility:Review your income, credit score, and debt-to-income ratio.
- Choose a Lender: Compare lenders offering 15-year fixed-rate mortgages.
- Get Pre-Approved:Submit financial details to get pre-approval.
- Find a Home:Search for a property within your budget.
- Submit Application: Complete the loan application with required documentation.
- Home Appraisal:Lender orders an appraisal to confirm the property's value.
- Loan Processing:Lender reviews your application and approves the loan.