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 as fast as possible?
If you answered “yes” to any of these questions, a 15-year fixed-rate mortgage might be right for you! Lower mortgage rates and a shorter term means less interest overall, making this loan a top choice for the financially savvy.

Example: $200,000 loan amount, paying 2 points, with 30% equity on today’s rate

Over the life of your loan,
a 15-year could save you:

$104,332
$359,485
$255,154

30-year fixed

4.375% (4.61 APR)

= $999 per month

15-year fixed

3.375% (3.796 APR)

= $1,418 per month

Why you should choose Quicken Loans

See where we’ve financed homes near you! Other Loans you might be interested in:

15-year fixed-rate mortgage qualification requirements

  • Refinance up to 95% of your primary home’s value
  • Buy a home with as little as 5% down (primary home)

How a 15-year fixed-rate mortgage works

  • Monthly payments based on 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 pre-payment penalties

Learn more about 15-year fixed-rate mortgages

Date Posted: 03/31/2014
  • This is my best experience to date! Nice job! Wonderful experience, highly recommend Quicken Loans!
    Read this Review

    William V.

    Overall: 5 out of 5

Date Posted: 03/24/2014
  • I was impressed with how Quicken Loans kept me informed every step of the way. Thanks!
    Read this Review

    Denise R.

    Overall: 5 out of 5

Click here to read more reviews.

  • Quicken Loans was by far the best, so they financed my house. And I'm glad they did.

    Tom, California
Click to see our assumptions.
  • 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 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
  • The lock period for your rate is 45 days.
  • The loan to value (LTV) ratio is 70%. 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.
  • 30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at 4.375% and 70% loan-to-value (LTV) is $998.58 with 1.875 points due at closing. The Annual Percentage Rate (APR) is 4.61%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

  • 15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 3.375% and 70% loan-to-value (LTV) is $1417.52 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.796%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

Lock in 15 years of home loan savings today! Call (800) 251-9080 or fill out the form to get started.

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