Mortgages
East Coast, Texas deal on 15-year loans
Aurora Financial still has a great deal on 15-year mortgages for borrowers on the East Coast and in Texas.
As of Jan. 14, the direct lender based in Vienna, Va., is offering a fixed-rate home loan for only 4.0% with no points and $1,451 in lender fees.
This deal is a quarter of a point lower than the national average for 15-year mortgages.
Shorter-term mortgages like these are popular with homeowners who are refinancing.
The monthly payments are higher than with a longer loan. For this loan, principal and interest would be $740 a month for each $100,000 borrowed.
You can use our mortgage calculator to determine the monthly payments for the exact amount you want to borrow with this or any home loan.
It will also provide a month-by-month amortization schedule that shows how much you've reduced your debt and how much you still owe if you want to pay off the loan.
By paying off their homes more quickly with a 15-year loan, borrowers can save tens of thousands of dollars in total interest.
See how much interest you'd save by paying off your home early using our 15-year vs. 30-year mortgage calculator.
These loans are available in Virginia, the District of Columbia, Maryland, Delaware, Florida, Georgia, North Carolina, South Carolina, Texas and West Virginia.
To qualify you'll need a credit score of 740 or higher and must be seeking a loan of less than $417,000.
Click here to compare this deal with the best mortgage rates from scores of other lenders in your area.
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