If you need assistance, please call 701-306-8303

  • Homeowner Tips & Tricks: Fixed-Rate Mortgages

    Tuesday, October 01, 2019   /   by Katherine Kiernan

    Homeowner Tips & Tricks: Fixed-Rate Mortgages

    How do I choose between a 15-year or 30-year FRM?
    Below is a comparison chart that details the comparison of total payments over the life of a loan, using the US National Average Home Loan as an example.


    Screen Shot 2019-10-01 at 8.13.36 AM.png

    As you can see, a 30-year fixed-rate loan will end up costing you more in the long run. However, not everyone can afford the higher monthly payments that comes with the 15-year loan. It all comes down to evaluating your financial situation and making the decision that is right for you!

    Screen Shot 2019-10-01 at 8.17.36 AM.png