Find Out Your New House Payment
Switch to a 15-Year Fixed and Save… Big Time! If you owe less than $636,000 (note: this will be $424,000 for low-balance counties) on your home you really need to consider switching to a 15-year fixed. A 15-year mortgage can help homeowners save over $100,000* over the life of their loan. It can also help you lock in historically low rates that will never rise.
Benefits of a 15-year fixed mortgage:
- Pay less interest over the life of your mortgage (compared to a 30-year fixed mortgage)
- Get a low mortgage rate that will never go up
- Take advantage of Newfi Lending’s competitive rates & five-star customer service
Pay off your home in as little as half the time and save over $100,000 in interest payments
How does a 15-year mortgage reduce your total payments? It’s easy: for the first 10 years of typical 30-year mortgage, most of your monthly payments are going to interest, not principal. And the principal is what you need to pay off to own your home free and clear. With a 15-year mortgage, you’re paying much more in principal every month, making a significant dent in your total loan amount. And if your 30-year interest rate is high, refinancing might mean that your 15-year monthly payment is about the same. Imagine paying off your house faster, with less interest, at about the same monthly mortgage payment!
How to switch to a 15-Year Fixed
Newfi Lending’s team of mortgage specialists can show you exactly how much you can save through by refinancing to a 15-year fixed. It only takes a minute to fill out the easy online form below, and your personal specialist will talk to you to determine if you’re in the right mortgage or not. There’s no obligation — what have you got to lose? And 15-year rates may not stay this low for much longer, so now’s the time to check your eligibility.
* Savings example: Take a $300,000 loan on a basic single family home with a 75% LTV ratio. As of 6/9/2017, the 30-year fixed rate is 3.875% and 15-year rate is 3.125%. The 30-year monthly payment is $1,411, which multiplied by 360 totals $507,960. The 15 year payment is $2,090, which multiplied by 180 totals $376,200. So total savings are $131,760! See newfi.com/2017/06/15-year-mortgage-refinance-advantages/ for further details.
Lock In Your Rate Today
Fill out this contact form and talk to us. We’re not here to sell your information to the highest bidder — we’re empowered to give you a firm rate and close quickly.