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15-Year Fixed Rate Mortgage.

Get a FREE quote on a 15-year fixed rate mortgage & save thousands of dollars per year.

Program overview

The Lowdown on 15-Year Fixed Rate Mortgage…

Our 15-Year Fixed Rates Are Low & Our Process is Quick & Painless. This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

15-year fixed

Own your home twice as fast.

Fully amortized over a 15-year period with constant monthly payments — all the advantages of a 30-year, plus a lower interest rate.

Interest savings
Significant
Paying off the loan in half the time means dramatically less interest over the life of the mortgage.
Equity build
Faster
A larger share of each payment goes to principal from day one, building equity twice as fast.
Monthly payment
Higher
The trade-off — your monthly payment is meaningfully larger than a 30-year for the same loan amount.

A common middle path: take a 30-year fixed and voluntarily make larger payments. You can pay it off in 15 years without committing to the higher payment — useful if your income fluctuates.

FAQ

Common questions answered.

Typically 25-30% higher on the same loan amount. For example, a $400,000 loan at 6.5% would be roughly $2,800/month on a 30-year versus $3,250/month on a 15-year.
A 15-year is best if you have solid monthly surplus. If you're strapped, a 30-year gives you flexibility. You can always refinance into a 15-year later when your income grows.
A 15-year typically has a rate 0.3-0.5% lower than a 30-year. The shorter timeline means less risk for lenders, so they offer a discount.
You have options. The most common path is refinancing into a 30-year, which drops your payment significantly. There's no penalty for refinancing, and you can do it through us or any other lender. We'll walk you through the trade-offs whenever you're ready.
Yes. You can refinance to a longer term anytime. You'll pay closing costs, but you'll lower your monthly payment and get back on solid footing. We refinance our own loans and others.
Yes. 15-year rates are typically 0.3-0.5% lower than 30-year because your loan poses less long-term risk to the lender.
Yes. Extra principal payments reduce the balance further and save you interest. There's no penalty for early payoff on our loans.

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More flexibility

30-Year Fixed

Lower monthly payment with the same rate certainty. The most popular choice for homebuyers nationwide.

 Custom term

MyFi

Choose any term between 8 and 30 years. Design a payoff schedule that matches your life.

Ready to own your home faster?

Pre-approval takes minutes. See what a 15-year payment looks like for your situation.

Apply now Call (949) 296-0636