Refinance
Nationwide Deal: 4.25% for a 15-year loan
The Money Store has one of the best deals in the country on 15-year home loans.
As of Jan. 5, its fixed-rate mortgage costs 4.25% with no points and a low $990 in lender fees.
Interest rates have risen in recent weeks, but this deal is still lower than the national average of 4.39% 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 $752 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.
The Money Store is based in Florham Park, N.J., and is licensed to write mortgages in 40 states (the exceptions are Arizona, Alaska, Illinois, Oklahoma, Montana, Nevada, Rhode Island, South Dakota, Utah and Wyoming).
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.
Shorter loans are a particularly popular option with homewoners who are refinancing, and can afford slightly higher monthly payments.
See how much interest you'd save by paying off your home early using our 15-year vs. 30-year mortgage calculator.
To qualify for The Money Store's deal, you'll need a credit score of 700 or higher. You also must be applying for a conforming loan -- one for 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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