About 15-Year Fixed-Rate Loans
Real Estate Investors have a love/hate relationship with the 15-Year Fixed Rate Mortgage. They love how quickly the loan pays down and how fast equity builds up. However, when buying a new rental property, the market rent is typically not high enough to cover teh higher payment of a 15-year mortgage, or, if high enough, the rent barely covers the expenses. This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus the interest rate is typically a little lower than a 30 year mortgage.
For some investors, refinancing an existing rental property into a 15 year mortgage makes sense when, over time, rents have increased and the equity in the property is higher. Their game plan is to buy houses using 30 year mortgages and then, refinance when the rent has increased and loan balance has decreased to support a 15-year fixed rate mortgage.
We’re here to make real estate investing easier, with tools and knowledge that will help guide you along the way, starting with our 15-Year Fixed Rate Mortgage Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re buying your first rental property or are a seasoned investor.
The 15-Year Fixed Rate Mortgage Loan Process
Here’s how our home loan process works:
- Complete our simple 15-Year Fixed Rate Mortgage Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates, payments, and terms
- Choose the offer that best fits your needs
