While it is not always an option at the beginning of a mortgage, knowing the difference in what your total costs will be can make things much easier. It can help some decide whether a 30 year or a 15 year mortgage is the best way for them to go. It is important to know all the financial details whenever considering a mortgage or refinance, and this calculator is another excellent tool to help you do that. Realizing the savings and the monthly payments for each choice can help you determine if there are other areas you can reduce expenses in the shorter term to save significant money on the total.
When you click on the calculators tab at the top of our site, select our 15-year vs. 30-year mortgage calculator on the drop-down menu. It will open in an online form that allows you to input your information. Enter your values and hit calculate, and a window will appear showing you what each monthly payment will be, as well as what the total cost will be for both options. Many love to use this tool to have a more reliable picture of what their expenses will be. Moreover, it can help them to budget in order to determine which choice will work the best for their situation and lifestyle.
Equity Source Mortgage knows the mortgage and refinances market and has been serving home buyers here for well over a decade. Because of this experience and understanding, Equity Source Mortgage is uniquely equipped to provide vast information and great counsel to find the right home mortgage and loan options. We understand the importance of your home, and the importance of a mortgage that is right for your unique situation. We are passionate about providing you the straight talk to make sure you are aware of your options, and we work hard to help you make the right decision. Contact Equity Source Mortgage today, or apply online through our secure online application.
Home borrowing costs were essentially unchanged last week and remain at historically low levels. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose two basis points to 3.11% with 0.43 in points for the week ending July 16, …[more]
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