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10 Year Fixed Mortgage Rate
A 10 year fixed rate mortgage offers a fixed interest rate and monthly payment, just like the other fixed rate loan products. A 10 year fixed rate mortgage option, like the 15 year fixed, is good for someone looking to pay off a loan quickly and pay less interest over the life of the loan. These loans have higher monthly payments, but carry lower premiums (interest rates) than 20 and 30 year fixed mortgages. The shorter, 10 year mortgage term allows you to pay less interest on the loan and build equity in your home at a faster rate. The 10 year fixed rate mortgage option is available for owner occupied, second homes, and investment properties.
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