Not sure what kind of a loan is right for you?
With Rocket Mortgage℠ by Quicken Loans, our faster, simpler and totally online way to get a mortgage, you can find out which loan option is right for you.
Not comfortable starting online? Answer a few questions, and we’ll have a Home Loan Expert call you.
Learn More Before Getting Started
Today’s low 15-year fixed rates can mean major savings for you
- Do you want to pay less interest over the course of your loan?
- Do you want the security of a consistent rate and payment?
- Do you want to pay off your mortgage faster?
Why you should choose Quicken Loans
- Only Quicken Loans offers you the Closing Cost Cutter and PMI Advantage. Find out how these great options can help guide you to the best decision to meet your financial goals.
- With more than 30 years of experience, we’ve designed a mortgage process that adapts to your needs.
- Our exclusive online tools like MyQL let you track your mortgage process from start to finish, and our Mortgage Calculator app gives you rates right on your phone.
15-year fixed-rate mortgage qualification requirements
- Refinance up to 97% of your primary home’s value
- Buy a home with as little as 3% down (primary home)
How a 15-year fixed-rate mortgage works
- Your monthly payment is based on your interest rate, principal loan amount, and amortized interest over 15 years
- Your payment will not change throughout the life of the loan
- Your actual payment will vary based on your situation and the current interest rates when you apply
- Pay your mortgage at any time without prepayment penalties
Learn more about 15-year fixed-rate mortgages
- Mortgage rates could change daily.
- Actual payments will vary based on your individual situation and current rates.
- Some products may not be available in all states.
- Some jumbo products may not be available to first time home buyers.
- Lending services may not be available in all areas.
- Some restrictions may apply.
- Based on the purchase/refinance of a primary residence with no cash out at closing.
- We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 740; and an escrow account for the payment of taxes and insurance.
- The lock period for your rate is 40 days.
- The loan to value (LTV) ratio is 75%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
- Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (800) 251-9080 to talk to one of our mortgage experts.