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15-Year Mortgage: Fixed Rate Home Loans Designed For You

Choosing the fixed-rate loan term that best suits your financial needs is imperative in deciding a mortgage budget. At Spire Financial (A Division of Amerifirst Financial, Inc.), our loan team can help determine if 15-year mortgage is right for you. Several variables should be considered, including down payment size, home price compared to income and other debt, and overall cash flow considerations. Our loan experts are here to help guide your decision.

The Benefits of 15-Year Mortgages

15-year mortgages are perfect for many different buyers because they reduce risk and deliver cost savings. Although monthly payments may be higher, a 15-year fixed-rate loan generally equates to a lower interest rate compared to those associated with a longer-term loan. Shorter terms can equate to being mortgage-free faster, allowing reallocation of money when the loan is paid off.

Get the Best Interest Rates Possible

When you pay more up front, it reduces the amount you owe, ensuring you get the best interest rates. While several factors are considered, rates on 15-year fixed-rate loans tend to be better, as there is less risk associated with the shortened term. Additionally, opportunity cost is lower for banks with this type of mortgage, as they pay less to make loan terms shorter.

Build Equity in Your Home Quicker!

Due to a shorter amortization schedule, home buyers with this type of financing will likely pay significantly less over the life of the loan than those with a longer-term option, helping them build equity faster. When you opt for a 15-year mortgage, you’ll also have a lower loan-to-value ratio, which helps if you decide to refinance your loan at a later date.

A Lending Hand for Financing Home Mortgages

Spire Financial (A Division of AmeriFirst Financial Inc.) brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.

Other Locations for 15-year Mortgage


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Disclaimer


Spire Financial, a division of AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS # 145368). 303-595-0110. © 2022. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. AmeriFirst Financial, Inc. is an independent mortgage lender and is not affiliated with the Department of Housing and Urban Development or the Federal Housing Administration. Not intended for legal or financial advice. Visit https://amerifirstloan.com/pages/state-licensing for all state licenses information. Visit NMLS Consumer Access at https://www.nmlsconsumeraccess.org/

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