Mortgage Interest Rates Learn How to Save Money
How Are Mortgage Interest Rates Determined?
There are many factors that could affect the mortgage rate you are offered, including the total loan amount, your individual credit score, the type of property you are financing as well as the economy as a whole.
Get your personalized quote online today to see how much home you can afford.
How Much Money Will I Save Choosing a 15-Year Loan Over a 30-Year Loan?
A 15-year fixed-rate mortgage gives you the ability to own your home free and clear in 15 years. While the monthly payments are somewhat higher than a 30-year mortgage, the interest rate on the 15-year mortgage is usually a little lower. Therefore, you'll pay less than half the total interest cost of the traditional 30-year mortgage. However, if you can't afford the higher monthly payment of a 15-year mortgage, you're not alone. Many borrowers find the higher payment out of reach and choose a 20-year or 30-year mortgage.
What’s My Mortgage Balance?
Your balance can be viewed after logging into either Online Banking or the Tru2Go® app and selecting the appropriate account from your list of accounts.