Build equity fast with a 15-year home loan at just 2.75%
The Mortgage Concierge is offering one of April’s best deals on a 15-year home loan.
It’s charging borrowers in four states just 2.75%, with no points, no origination fee and a 30-day rate lock for purchase or refinance.
That’s more than a third of a percentage point below the current average cost of a 15-year home loan — 3.09%, according to our latest survey of major lenders.
And compared to a 30-year home loan, it’s more than a full percentage point below the average cost of 3.83% with 0.17 points.
This deal is available in Connecticut, Florida, Indiana and Ohio.
Not available where you live? This deal still serves as a great blueprint to follow. Find a deal like this in your area, and you'll know you've found a winner.
Click here to compare this deal with the best mortgage rates from scores of other lenders in your area.
Shorter-term loans like this one are particularly popular with borrowers who want to save tens of thousands of dollars in interest by paying off their loans more quickly.
See how much interest you'd save by paying off your home loan early using our 15-year home loan vs. 30-year home loan mortgage comparison calculator.
The biggest drawback to short-term loans is that the monthly payments are higher. For this loan, the principal and interest payment would be $679 a month for every $100,000 borrowed, or $1,357 on a $200,000 loan.
You can use our mortgage calculator to determine the monthly payments for the 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.
The Mortgage Concierge is headquartered in Columbus, Ohio, and enjoys an A+ rating from the Better Business Bureau.
To qualify for this deal, you must:
- Be borrowing $417,000 or less.
- Have a credit score of 740 or better.
- Be buying a home or refinancing no more than the outstanding balance of your current home loan.
- Make a downpayment of at least 20% if you’re buying.
- Hold 20% or more of the equity in your home if you are refinancing.