Refinance for just 4.00% with no points

Coins in shape of house

Many homeowners are refinancing with 15-year mortgages to pay off their homes more quickly.

If that appeals to you, Home Savings of America has one of the best deals around on 15-year, fixed-rate mortgages.

As of May 12, it's charging 4.00% with no points and an application fee of $1,894.

That's a half-point lower than the national average for 15-month, fixed-rate home loans.

The payment on a Home Savings' loan would be $740 per month for every $100,000 borrowed.

That's about $140 a month more than a 30-year mortgage at 6.00% costs for every $100,000. But the faster you pay off a home, the more you'll save in total interest costs.

See exactly how much you might save with this kind of refinance with our refinancing calculator.

Home Savings of America, based in Minneapolis, Minn., is licensed to make mortgages in all 50 states.

Borrowers who pay one or two points (that's prepaid interest, with one point equaling 1% of your loan amount), may be able to get a loan for as low as 3.875%.

Our points calculator can help you decide if that makes sense for you.

These rates are for borrowers with credit scores of at least 700 and who need conforming loans, which means they're for less than $417,000 to $729,500, depending on the market.

Click here to check the best mortgage rates from scores of other lenders in your area.

Follow Interest.com on Twitter.