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Why You Should Choose a 15 Year Fixed Rate Loan

If your goal is to get your home paid off quickly and save tens of thousands in interest, this is a great loan. This loan offers you a fixed rate that will never change so you can budget your finances accordingly for the next 15 years; half the time of a traditional 30 year fixed rate. Plus with no prepayment penalties - the more you pay monthly on your mortgage the more you save in interest on the loan. There's nothing better than owning a home other than owning a home that's paid free and clear.

This product is great for consumers who:

  1. Who want an accelerated loan to become completely debt free in only 15 years!
  2. Need the flexibility to refinance up to 95% of your primary residence. (the home you live in)
  3. Could use the benefit of only having to put down as little as 5% down to purchase a home.

The math makes sense. Take a look at the difference between a $250,000 loan amount considering 70% loan to value, on a 30 year fixed rate mortgage, compared to a 15 year fixed rate mortgage. Look at the tens of thousands you save in interest.

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