Conventional 15-Year Fixed

15 year fixed loans offer a lower interest rate that is fixed and not subject to change. Also giving you the ability to save money in interest over the life of your loan.

How Do 15-Year Fixed Loans Work | Who Do They Benefit The Most

Basically, you’ll pay off your mortgage in 15 years. Reason being, you’ll pay off the loan faster in comparison to a 30 year mortgage. Also, you’ll pay less in interest over the entire loan term.

15 year fixed loans work best for those who want to save more in interest and pay off their loan sooner. The interest rate that won’t change over the course of the entire loan. So, by deciding on the 15 year fixed mortgage rate, you will be saving more in interest straight out the gate. Read more about other benefits down below. 

Your interest and principal payments won’t change over the life of the loan. However, the amount for your taxes and insurance can go up and down. Depending on your down payment, you may need to pay for mortgage insurance. Also depending on the amount of equity you have if you’re refinancing. 

How To Qualify For A 15-Year Fixed Loan

15-Year Fixed Loan Benefits

15-Year Fixed Loan Requirements For Your Property

Why Choose Tampa Bay Home Mortgage

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