How do you want to get started?
With Rocket Mortgage℠ by Quicken Loans, our fast, powerful and completely online way to get a mortgage, you can see options that let you pay off your mortgage faster.
Not comfortable starting online? Answer a few questions, and we’ll have a Home Loan Expert call you.
Paying off your mortgage faster is easier than you think.
- Take advantage of today’s low mortgage rates and shorten the term of your mortgage. Remember, the shorter your term, the lower your mortgage rate!
- See if you can save money with a different term or a lower interest rate with our amortization calculator or our easy-to-use refinance calculator.
- There are several easy options to pay off your mortgage faster, including the cash-in refinance and the 15-year fixed. And don’t forget to check out the YOURgage, where you choose the term to match your budget.
Every day, we help hundreds of Americans save money by refinancing. Talk to a Home Loan Expert today to see how we can help you.
Here’s 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 you save money upfront on your new loan.
- 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.
Here are our most popular loan options for paying off your mortgage faster:
- YOURgage – Refinance to the fixed term of YOUR choice. The YOURgage allows you to choose a term from 8 to 30 years so you can pay off your mortgage at your own pace.
- 15-year fixed – Lock in today with a 15-year fixed and pay thousands less in interest.
- 15-year FHA or VA loan – The FHA loan is great for folks who have less equity in their home or want to bring less money to closing. The VA loan is a top benefit of military service and a top choice for veterans refinancing to pay off their mortgage faster.
Frequently Asked Questions
When does it make sense to refinance?
Reasons for refinancing your mortgage include lowering your payment, shortening your term or using the equity you’ve built up over time to get cash back out of your home. Whether it makes sense to refinance your home depends on a number of factors. Do you have enough equity built up in your home? Are interest rates lower now than they were when you first got your home loan? Do you plan to stay in your home for many years?
What are the advantages of a shorter repayment period?
You’ll be able to own your house sooner than you would with your current mortgage. This may put you in a better financial situation down the road, while saving you quite a bit on interest.
What are the disadvantages?
Just like lengthening your loan term decreases your monthly payment, shortening your loan term means increasing your monthly payment. Use our mortgage amortization calculator or our easy-to-use refinance calculator to see what your new term and payments could be.