Refinance
FBC offers 15-year loan for 4.00%
FBC Mortgage LLC is offering borrowers in six states a lower-than-average rate on 15-year home loans.
As of Dec. 7, its fixed-rate mortgage costs only 4.00%, with $945 in fees and no points.
Those mortgages are available in Florida, Alabama, Tennessee, Mississippi, Texas and Connecticut.
The monthly payments are higher than with a longer loan. For this loan, principal and interest would be $739 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 the loan off.
The average cost of a 15-year, fixed-rate mortgages is currently 4.07%.
Shorter loans are often popular with homeowners who are refinancing. By paying their homes off more quickly, 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 mortgage comparison calculator.
FBC Mortgage, LLC is headquartered in Orlando and makes loans in Florida, Alabama, Tennessee, Mississippi, Texas and Connecticut.
To qualify for this loan, you need a credit score of 700 or higher. You must also be applying for a conforming loan -- one for less than $417,000 to $729,750, depending on where you live.
Click here to compare this deal with the best mortgage rates from scores of other lenders in your area.
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