15-year fixed mortgages offer a lower fixed interest rate and the ability to save money in interest over the life of your loan.
People who want to save more in interest by paying off their loan sooner and want an interest rate that never changes over the entire life of the loan. Read more about other benefits below.
You’ll pay off your mortgage in 15 years. Because you’ll pay off the loan faster than a 30-year mortgage, you’ll pay less in interest over the life of the loan.
Because your interest rate is locked for the life of your loan, your principal and interest payments won’t change over the life of the loan. The amount for your taxes and insurance can go up and down.
You may have to pay for mortgage insurance, depending on your down payment amount if you’re buying a home, or how much equity you have if you’re refinancing.
You’ll have to pay primary mortgage insurance (PMI) with your 30-year fixed rate loan if your down payment is less than 20%.
|Conforming 15 Year Fixed||3.125%||3.593%|
You’ll pay off your mortgage faster than with other loans.
You can pay off your mortgage at any time without prepayment penalties.
You may be able to avoid mortgage insurance with a down payment of 20% or higher.
Your interest rate is fixed for the life of the loan, so you don’t have to worry about rates rising.
You can buy your primary home with as little as 3% down.
You can refinance your primary home for up to 97% of its value.
Apply online and work at whatever pace is convenient for you.
Home Loan Experts are available via chat, email and phone to help you understand whether an ARM is right for you.
We service 99% of our mortgages, so our great customer service continues after you close.
After you close your loan, you can manage your mortgage online without any hidden fees.
No prepayment penalties if you pay off your loan early.
Downtone Loans has been providing our clients with award-winning service for over 60+ Years. We service 99% of our loans, which means you’ll get the same care and attention throughout the entire life of your loan.