15-Year Fixed Rate Mortgage
When you choose a 15-year fixed rate mortgage, your interest rate is locked in for the life of the loan. That means you'll have consistent monthly payments throughout the 15-year repayment period.
When you choose a 15-year fixed rate mortgage, or a conventional mortgage, your monthly costs will be a bit higher, but you'll pay less interest overall and finish repayment within just 15 years.
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