A fifteen-year fixed mortgage is an example of home loan with a steady interest rate, requiring repayment over fifteen years.
Due to its brief duration, the monthly payments will be higher. Despite this, the 15-year fixed mortgage has lots of benefits:
Lower interest rates that save you money
Quicker equity buildup
Reduced interest payments compared to longer-term loans
Faster homeownership
Fixed, predictable monthly payments that simplify budgeting
Better resale value
financial stress in the long term
Choosing a 15-year fixed mortgage can be a wise financial move for people who can afford the higher monthly payments and seek to build equity and save interest in the long run.
Yet, many borrowers choose a 30-year fixed mortgage because there is not a big difference in interest rates.
If you are in Sumner, contact Wave Lending Group to learn about the differences between the programs. We offer competitive rates and a streamlined process for both 15-year and 30-year fixed mortgages.
Our expert team will help you to choose the best mortgage based on your needs, so call us today!
https://ift.tt/rTHyiJq
from GMB Posts For Location "Wave Lending Group #21751" https://ift.tt/UzL4K81
via IFTTT
No comments:
Post a Comment