15 Year Fixed Rates

15 Year Fixed Rates

15 Year Mortgage Rates

Typically, a homeowner will take out a mortgage to purchase a home so that he doesn’t have to save up to pay for the full sum of the home. As a future homeowner, one of the first decisions that you’ll have to make is how long you want to take to pay off the home. While there are varying mortgage terms available, most people opt to take a 15 year or 30 year mortgage. Once you’ve determined the length of the loan, you must decide whether it makes sense to take a fixed or adjustable rate loan.

Pros of 15 Year Fixed Mortgage Rates

If you have the income to support the payment for a 15 year mortgage and you want the peace of mind that comes with having the same interest rate for the duration of the loan, a 15 year fixed mortgage is a great option.

  • Pay less interest. The more quickly you pay off the loan, the less interest you pay, saving you thousands of dollars over the lifetime of the loan.
  • Enjoy a higher level of security. Knowing that you’ll have a consistent interest rate and will be making the exact same payment for every month of the loan allows you to make long-term financial plans.
  • Pay off the mortgage more quickly. Most homeowners make their monthly mortgage payments without even thinking about what life would be like without this hefty payment. If you plan to stay in your home for several decades or longer, paying down your mortgage quickly frees up a significant amount of funds for savings, travel, and other pursuits.

At Paramount Equity®, we work closely with all of our customers to ensure that they sign up for the programs that fit their needs most closely. From purchasing a new home to applying for VA refinancing, we offer the products and services that you need to live your desired lifestyle. To learn more, call us today at 855-333-5336.

The Paramount Pledge™ – Triple Protection

The Paramount Pledge. It is our promise to you that we’ll provide the best rates, won’t charge you an application fee to lock in a rate and will ensure we can close and lock in a rate at the terms we provide.

No Application Fee – Other lenders charge hundreds of dollars to start the loan process with you. Paramount Equity Mortgage® will never ask you to pay an application fee just to lock in your rate.
Better Rate Warranty – After you complete a loan with us, we will cover most of the cost to refinance or purchase within the next seven years, for any reason.
Set & Secure Closing Guarantee™* – Once we receive all required borrower information, your signed disclosure and lock your loan, we guarantee we can close your loan at the rate and terms we provided. If we can’t, we will pay you $500.
* The Set & Secure Closing Guarantee is not valid in the event that there is an unforeseen change such as, an appraisal coming in under value, undisclosed debt at the time the loan was pre-qualified, a change in income due to loss of job or change in employment, etc. This guarantee is also not valid in the event that you withdraw your application or request a change to the terms of your loan. A change in terms would consist of, but is not limited to, a change in loan amount, fixed vs. adjustable rate, number of years the loan is amortized, adding/removing a borrower, etc.
On a purchase transaction with a Conventional 15 year fixed loan, a payment of $1559.27 with an LTV of 70%, and a 3.515% % APR. For all information a loan amount of $220,000 is assumed and a rate of 3.375% is being used. Terms available to qualified applicants only; payment does not include taxes or insurance which, if applicable, will increase your total monthly payment. Rates are subject to change without notice. Mortgage insurance is required for all FHA loans and conforming loans with a Loan To Value ratio above 80%. Mortgage insurance is not included in the payment quoted which, if required on your loan, will increase your actual payment. The APR (3.515%) shown has been calculated assuming a 740 credit score. Additional costs to obtain this loan include but are not limited to: payment for taxes and insurance due, payment for an appraisal, any amount necessary to establish your escrow account, if applicable, and title fees.
On a purchase transaction with a Conventional 30 year fixed loan, a payment of $1066.23 with an LTV of 70%, and a 4.210% % APR. For all information a loan amount of $220,000 is assumed and a rate of 4.125% is being used. Terms available to qualified applicants only; payment does not include taxes or insurance which, if applicable, will increase your total monthly payment. Rates are subject to change without notice. Mortgage insurance is required for all FHA loans and conforming loans with a Loan To Value ratio above 80%. Mortgage insurance is not included in the payment quoted which, if required on your loan, will increase your actual payment. The APR (4.210%) shown has been calculated assuming a 740 credit score. Additional costs to obtain this loan include but are not limited to: payment for taxes and insurance due, payment for an appraisal, any amount necessary to establish your escrow account, if applicable, and title fees.