Realvolution

Published October 1, 2019

Homeowner Tips & Tricks: Fixed-Rate Mortgages

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Written by Katherine Kiernan

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How do I choose between a 15-year or 30-year FRM?
Below is a comparison chart that details the comparison of total payments over the life of a loan, using the US National Average Home Loan as an example.


As you can see, a 30-year fixed-rate loan will end up costing you more in the long run. However, not everyone can afford the higher monthly payments that comes with the 15-year loan. It all comes down to evaluating your financial situation and making the decision that is right for you!

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tips & tricks, fixed-rate mortgages, homeowner, mortgage
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Katherine Kiernan

Owner | Broker | Agent | Aspire Realty

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