Home Loans California & Arizona

15 year term verses a 30 year term

September 25th, 2011 11:15 AM by Nathan Rufty

With interest as low as they have been this past week, I have been reviewing the payment on a 15 year term verses a 30 year term for homebuyers and homeowners looking to refinance into a short term. The rates last week on a 15 year term were anywhere from 3% to 3.5% depending on credit scores and loan to value, in some cases the payment on this new rate was lower than what a 30 year has to offer. Look into that option when looking to finance a home, you might be surprised on how fast you can own your home and build equity a lot faster on a shorter term mortgage.

 

Posted in:General
Posted by Nathan Rufty on September 25th, 2011 11:15 AM

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