A 15-year fixed-rate mortgage is a home loan with a repayment period of 15 years. It has an interest rate that does not change throughout the life of the loan.
These rates and APRs are current as of $date and may change at any time. They assume you have a FICO® Score of 740+ and a down payment of at least 25%, that the loan is for a single-family home as your primary residence and that you will purchase up to one mortgage point.
Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. Connect with a mortgage loan officer to learn more about mortgage points.
Learn how these rates and APRs are calculated. Plus, see a conforming fixed-rate estimated monthly payment and APR example. Get more details.
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A 15-year fixed-rate mortgage is a home loan with a repayment period of 15 years. It has an interest rate that does not change throughout the life of the loan.
The main advantages of a 15-year fixed mortgage are outlined below. An experienced U.S. Bank mortgage loan officer can help you learn more.
A fixed-rate mortgage gives you predictability regardless of term. Consider choosing a 15-year term over a 20- or 30-year term if:
U.S. Bank offers a variety of loan terms and options. Our mortgage loan officers are dedicated to helping you choose the option that’s best for you.