15-Year Refinance Rates

More and more homeowners are refinancing into a fifteen-year mortgage, because 15-year refinance rates have fallen to record lows. When 15-year mortgage rates fell below 4% it became interesting, but when the Mortgage Bankers Association announced that 15-year refinance rate dropped below 3%, it became clear as to why borrowers were motivated to refinance. Think about it---How good would it feel to own your home with no mortgage in just 15 years? More importantly---How great would it be to know that you can actually afford the fixed rate 15-year mortgage? We have found that many financial advisors and tax consultants will suggest a 15-year mortgage when the borrowers have a low debt-to-income ratio because the 15-year rate is typically half a percentage point lower than its 30-year counter-part. Find out why we are seeing more people request info on fixed rate 15-year mortgage loans than ever before.

Consider Refinancing with the Fixed 15-Year Mortgage Rates that Are Secure and Affordable!

 

Fixed Rate 15-Year Mortgage: The monthly payment on a $250,000 with a 15-year mortgage rate at 2.750% is $1,866.21 with no points and no lender fees rolled into the mortgage. The Annual Percentage Rate is also 2.75%. The loan payment does not include taxes and insurance that is typically factored into your monthly payment in an escrow account that is set up by the lender. (See lender for conditions and requirements on 15-year mortgage loans. LTV, credit score and debt to income ratio will all be considered for approvals.

 

Refinance Articles

BD Nationwide publishes great articles on their blog in an effort to help homeowners stay up to speed on emerging mortgage programs for refinancing.

Tips for Refinancing a Mortgage - Compare 30 and 15-year mortgage options in a side by side analysis.

Timing the Lowest Mortgage Rates - Can interest rates fall any further in Obama's second term?

Resource Tools


Mortgage Calculator
Analyze the monthly payments for 30 and 15-year mortgages. When shopping for refinance loans online take advantage of our tools and mortgage calculators.

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