As you journey into homeownership you may be curious about a 15-year fixed mortgage as it’s one of the more common fixed rates seen on the real estate market.
Before signing any mortgage loan contracts, consider some of the key aspects connected with a 15-year mortgage loan.
At a standard rate, 15-year mortgage loans are popular due to their lower interest amounts in comparison to longer loan terms. This means higher monthly payments, with less money going towards interest over the lifespan of the loan, saving homeowners thousands of dollars.
If you decide to go with this loan option, the interest rate is fixed meaning your monthly payments won’t be subject to change from start to finish of the loan term which offers stability.
As the real estate market ebbs and flows because of economic factors, the average interest rate has changed a great deal over the years. This is why it’s vital to shop around with different lenders to determine the best loan option for you.
You can find a comprehensive list of the best mortgage lenders and their average interest rates online which can aid in narrowing down your mortgage loan option.
Also consider reading reviews to determine if they communicate well with their customers and if they offer great support.
Purchasing a home requires a hefty financial commitment, so it’s good to keep your mortgage options open. If you’re interested in a 15-year mortgage loan, consider speaking with a local lender in person to get an idea of loan conditions and what you’ll need to do to qualify.
The professionals you want on your team.
Consummate professionals who take your business seriously, this dynamic team employs thirty years of leadership, mentoring and management to adeptly serve their real estate clientele. Nicole and Robin, better known as TEAM Metrowest, have been a top producing team since their entry into real estate in 2009 with over 350 homes sold in over 70 cities and towns throughout the greater Boston and Metrowest areas. Clients can count on prompt communications and a focus on details from a TEAM that cares as much about their client’s goals as they do about making a sale. In a business reliant upon referrals and repeat business, TEAM Metrowest prides itself on over 90% of their business coming directly from past clients.
