top of page

Why a 15-Year Mortgage Is a Good Deal

Report below from Venessa Ward, Sr. Mortgage Banker-Pacific Residential Mortgage

Mortgage Rates Have Fallen to an All New Low!

So why should buyers consider a 15-year mortgage over a 30-year mortgage? SAVINGS!

Rates are lower. 15-year mortgages can be half a percent lower in rate or more depending upon investor and program.

Increased Principle Reduction. After the first 5 years of the loan, a 15-year mortgage will have 25% of the debt paid off vs. only around 8% with a 30-year term.

Reduced Total Interest Paid. 30-year mortgages typically have a much higher premium in interest payments. A person with a 15-year mortgage could pay less than half the amount of interest on the same loan amount, even at the same rate.

Considering most first time home buyers move within the first five years of owning their home, a 15-year mortgage allows them to build more equity by the time they are ready to sell or upgrade.

Recent Posts

See All

Stay Credit Smart

When you are looking to buy a home whether now or in the future, it is important to be a smart consumer. It is important to know a few...

How Much Mortgage You Can Afford?

Article from HouseLogic By: G. M. Filisko Published: March 11, 2010 By knowing how much mortgage you can handle, you can ensure that...

BE IN 
TOUCH

Walk-ins & appointments welcome!
  • White Facebook Icon
  • White Instagram Icon
  • LinkedIn

McMinnville:

503-437-9005

207 NE 19th Street, Suite 100

McMinnville, OR 97128

Newberg:

503-538-2085

2505 N Portland Rd

Newberg, OR 97132

Silverton:

503-874-1540

216 East Main Street

Silverton, OR 97381

About Bella Casa

We are Oregon real estate professionals serving home buyers and sellers in the greater Portland Metro markets, the Willamette Valley region, and the greater Marion County markets. Our Brokers represent sellers and buyers in all types of residential home sales, bare land, farms, vineyards, equestrian properties, commercial sales, and more.

Residential & Commercial | Luxury & Golf Course Properties | First Time Home Buyers | Horse Properties | Farm Land | Buildable Lots & Land | Vineyard & Orchard Land | Foreclosures & Bank-Owned

Rental Vacancies

© 2023 Bella Casa Real Estate Group | Terms of Use | Privacy Policy | All Rights Reserved | All Brokers Licensed in the State of Oregon

bottom of page