Cut Your Repayment Time In Half With A 15-Year Loan. Benefit from Lower Interest Rates and Achieve Financial Independence Sooner With A 15-Year Mortgage.
Cut Your Repayment Time In Half With A 15-Year Loan. Benefit from Lower Interest Rates and Achieve Financial Independence Sooner With A 15-Year Mortgage.
Refinance and save money with extremely low 15-year fixed interest rates! If your goals are to reach financial freedom and pay off your mortgage faster, than refinancing to a 15-year mortgage is a great choice. The interest savings alone could amount to ten, even hundreds of thousands of dollars - plus, you'll pay off your mortgage in half the time!
To understand how a shorter-term loan saves you money over the long term, take a look at this example of a 30-Year mortgage compared to a 15-Year:
| Mortgage Savings | Rate | Monthly Payment | Total Interest Expense |
|---|---|---|---|
| 30-Year Mortgage | 3.5% | $898 | $123,312 |
| 15-Year Mortgage | 2.9% | $1,371 | $46,881 |
| Total Savings | - | - | $76,431 |
In this $200,000 loan amount scenario, by choosing a shorter term you could save over $76,000 compared to a 30-year mortgage. Find out how you can start saving money and get the most of your mortgage today!