People taking out a 15-year mortgage save money in three ways: Lower interest. 15-year borrowers pay a lower interest rate (on average) compared to 30-year borrowers. Less mortgage insurance. 15-year borrowers pay less in annual mortgage insurance premiums. Mortgage is paid off sooner. A 15-year.
15-Year Fixed-Rate Mortgage: The payment on a $207,146 15-year Fixed-Rate Loan at 3.50% and 77.58% loan-to-value (LTV) is $1,480.86 with 2.00 points due at closing. The Annual Percentage Rate (APR) is 3.962%.
A 15-year FHA loan may be applied for as an adjustable rate mortgage as well as a fixed-rate note. If you are contemplating the adjustable rate mortgage in a 15-year loan you will first need to determine if there is an FHA lender willing to offer you such a package; not all FHA loan options are available from all participating lenders.
To further entice FHA mortgage holders, the FHA also offers upfront mortgage insurance premium (upfront MIP) refunds. This refund allows a portion of the premium paid when the original FHA loan closed to be applied to the upfront MIP of the new fha streamline refinance loan. Check today’s FHA streamline refinance rates here.
You typically have the choice between a 15- and 30-year. Consider the types of 30-year loans and the condo’s.
Fha 15 Year Mortgage – If you are looking for new home refinance or thinking about a better rate of your existing loan then study a large number of offers from secure lenders at our site.