These Loan offer a lower fix 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 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 your buying a home, or how much equality you have if you’re refinancing.
Apply online with Houz Mortgage or enter some
into to get a call from a Home Loan Expert. You’ll
get a personalized recommendation on which
loan option is best for you.
|Conforming 15 Year Fixed|
The payment on a $200,000 15-year Fixed-Rate Loan at 3.125% and 74.91% loan
-to-value (LTV) is $1,393.22 with 2.25 points due of closing. The Annual Percentage
Rate (APR) is 3.623%. Payment does not include taxes and insurance premiums. The
actual payment amount will be greater. Some state and country maximum loan
amount restriction may apply.
You’ll have to pay primary mortgage insurance (PMI) if your down payment is less than 20%.