Mortgage Refinance Rates

by Poniman Tjhin

I suggest you to consider getting a 15 year mortgage if you are a person who can manage your money wisely. 15 year mortgage has a lot of good point and one of the good point is before you retire, your home can be owned by you, free and clear. A lot of money in interest even hundreds of thousands in many cases can be saved by you.

If you think that a 30 year mortgage is cheaper than 15 year mortgage, you should consider the following :

If a 30 year mortgage’ interest is at 8%, you must pay for the interest about $374 / month. Overall, about $164,165 in interest will be paid back by you for your mortgage. If interest is at 7.5% , you will be costed about $927/month for the principal and interest, and overall your mortgage, about $66,862 in interest will be paid back by you. About $97,293 in interest ca be saved if you pay $193 extra a month. That’s a lot of money is going to you, plus – in half the time you can own your home. By 15 year mortgage you only save less than half but for most people, saving money is really awful. 15 year mortgage should be considered by you if you’ve got extra money. Here you can learn more about home loan interest rates, how to compare mortgage rates, tips n finding best mortgage rates and 2^nd mortgage rates, and last, you have to know our useful tips in order to get best deal mortgage refinance rates..!