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15 Yr Fixed Rate Loans

A type of fixed rate loan option that will be perfect for you if you want to pay off your loan infewer years is a 15 year fixed rate loan. 15 year fixed rate loans give you the security of predictable monthly payments with rate and payment that won’t fluctuate. This type of mortgage type is best suited for you if you want to pay your home loan before you start paying for other expenses like paying for your child’s college tuition or planning for an early retirement.

No matter you are a first time home buyer looking for a first-time mortgage, a move-up buyer changing or remodeling home or need to refinance current mortgage, with 15 year fixed rate loans, you will receive all the benefits of 30 year fixed rate loan or any other type of loan.

Let’s discuss the main benefits of 15 year fixed rate loans

Peace of mind – This loan type gives you the security and peace of mind knowing your mortgage payment will never increase with the passage of time.

Reliable monthly payments – Unlike other loan types, 15 year fixed rate loans offers you the ability to know how much you will pay every month towards your loan. Also, your interest rate will be low as compared to a 30 year fixed rate loan and you will pay your home loan faster.

Inflation protection – Your interest rate will never increase for the life of your loan in spite of any fluctuations prevailing in the market with time.

Quick loan repayment – With 15 year fixed rate loans, you will pay off your mortgage more quickly with the benefit of paying less interest over the duration of the loan. This is basically advantageous for those who want to pay off their home mortgage quickly in order to fulfill other commitments.

Building equity – Selecting one of 5Star Lending’s 15 year fixed rate loans allows you to build equity more quickly than a 30 year fixed-rate loan.

Get in touch with a mortgage expert at 5Star Lending to learn more about the benefits of 15 year fixed rate loans.