One of the most simple and attractive types of mortgages is the 15-year fixed-rate mortgage. The interest rate stays the same over the life of the loan, which provides unchanging monthly payments. Over time, borrowers gain equity in the home as they pay down the principal, or actual loan amount. For borrowers who want to build equity and pay down the loan quickly with less interest, this mortgage is particularly helpful and practical. A disadvantage of the 15-year fixed-rate mortgage is paying more per month than longer-term loans.
Largest Cities in Florida:
Boca Raton
Boynton Beach
Brandon
Cape Coral
Carol City
Clearwater
Coral Springs
Country Club
Davie
Daytona Beach
Deerfield Beach
Delray Beach
Deltona
Fort Lauderdale
Fountainbleau
Gainesville
Hialeah
Hollywood
Jacksonville
Kendale Lakes
Kendall
Kissimmee
Lakeland
Largo
Lauderhill
Melbourne
Miami
Miami Beach
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North Miami
Orlando
Palm Bay
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Pembroke Pines
Plantation
Pompano Beach
Port Orange
Port Saint Lucie
Saint Petersburg
Spring Hill
Sunrise
Tallahassee
Tamarac
Tamiami
Tampa
The Hammocks
Town’n’Country
Wellington
West Palm Beach
Weston
Disclaimer
Fixed Rate Mortgage/Adjustable Rate Mortgage Conforming
Rates and fees are quoted on a $200,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio.
Rates are subject to change without notice.
Fixed Rate Mortgage/Adjustable Rate Mortgage Jumbo
Rates and fees are quoted on a $450,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio.
Rates are subject to change without notice.
“Are you searching for a loan amount of more than $417,000?
Please be aware that recent legislation allows lenders to offer conforming loan rates at a higher loan amount limit based on the county the property is located. For details about the new conforming loan limits, click here.
Florida
