What Can a Shorter-term Loan Do for You?
Want to own your home faster and pay less interest?
A 15-, 20-, or 25-year refinance loan may:
- Have LOWER RATES than 30-year loans
- SAVE A SMALL FORTUNE in total interest
- Expedite LOAN PAYOFF
- Have higher MONTHLY PAYMENTS, but not always
Talking to a loan professional can help you decide if a shorter-term mortgage works for you.
Average rates based on Freddie Mac PMMS for Oct 1, 2015. Example shows principal and interest only. Rates are hypothetical with APRs of 4.05%, 3.67% and 3.27% respectively.