Most people would love to pay off their mortgage and be debt free. The question is, how can it be done faster? The answer is to take advantage of today’s incredibly low rates on 15-Year Fixed Rate Mortgages.
With rates as low as they are, many people can afford to lower the term on their mortgage and not have a huge difference in payments. Typically the shorter the term of your loan, the lower the interest rate you’ll get. Paying off your loan early will save you thousands of dollars in interest over the life of the loan. You will also have extra money when the loan is paid off to cover life’s big expenses such as college tuition, and healthcare expenses.