The Expedient Option for Qualified Borrowers
The 15-year fixed-rate mortgage may not be as popular as its other counterpart 30-year loan, but it offers its own distinct advantages that can be the perfect fit for certain buyers. 15-year fixed-rate mortgages allow you to pay off your mortgage faster and build equity quick at the cost of higher monthly payments. The interest rate is similarly fixed throughout the life cycle of the loan, meaning you don’t have to worry about a volatile market raising your interest rate.
If you’re seeking a loan that allows you to pay it off in a shorter time while managing higher monthly payments, a 15-year fixed-rate mortgage might be the perfect option for you. At Federal Hill Mortgage, we’re dedicated to delivering the best rates we can find through our brokerage and lending services.
To secure your 15-year fixed-rate mortgage, it's important to first get started with pre-approval. Pre-approval helps streamline the mortgage journey, allowing your broker or lender to get preliminary look at your finances. In turn, you receive an estimate what your loan could be, which helps you shop smart.
Now it's time to apply for your loan. Unlike pre-approval, getting approved for your loan is a longer and more in-depth process that touches every aspect of your financial health and history.
It's time to find the house that is right for you, your family, and your budget. Once you have selected the perfect home, it's time to close your loan with the professional help of your Maryland mortgage brokers at Federal Hill Mortgage.
15-year fixed-rate mortgages appeal specifically to those who have the ability to manage higher monthly payments as a means to pay off their mortgage faster and gain equity at an excelled rate. This shorter path to homeownership is one of the primary reasons to seek a 15-year fixed-rate mortgage. Additionally, 15-year fixed-rate mortgages can confer long term savings in the way not possible with a 30-year mortgage, as you accrue less interest expenditures over time.
15-year fixed-rate mortgages are a great option for homebuyers prepared to pay their mortgage off quick, and the expert team at Federal Hill Mortgage can’t wait to help make your home buying dreams a reality.
At Federal Hill Mortgage, our success story is the memories you get to create in your new home. We believe that you should have attentive, professional, and effective mortgage brokers and lenders ready to help you find the right conventional loan.