With today's low rates and lender-paid closing costs, now is the time to trim years off your mortgage and live the fantasy - early retirement!
A 10-year fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular mortgage loan options today. If you are comfortable with a higher payment and want to pay off your loan quickly, the 10-year fixed rate loan may be exactly what you are looking for.
*Sample payment: Assumes credit score for borrower is 740 or higher and Loan to Value of 80% or less. At a 4.125% interest rate, the APR for this loan type is 4.259%. Rate is as of 6/16/17. Rates are subject to change. The payment schedule would be 120 payments of about $1,222.08 at an interest rate of 4.125%. This payment schedule is based on a $120,000 loan on a $150,000 for the purchase of a primary residence. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.