What's your scenario?

When it comes to getting a mortgage, you've got more options than you think. Everyone's situation is different. Tell me your scenario below, and I'll present you with all your options.
Close this form
close

407-704-8729

Questions? Give us a call or chat now!
Ready for your free, no-obligation personalized rate quote?
Get Started Today
< Fixed Rate Mortgage

15 Year Fixed Rate Mortgage with No Points

When you choose a 15 year fixed rate mortgage, rather than the typical 30 year, you benefit from a lower rate, a chance to build more equity and less interest overall. Paying no points is typically one of the most common scenarios chosen by homeowners.  Why? It results in lower closing costs which benefits most homeowners.  Most people don’t keep a mortgage for more than 5 to 7 years, so there is no point in having higher closing costs, because by the time you have recuperated the closing costs, you have either sold your house or refinanced the mortgage.

So, who shouldn’t pay points?

For refinancing your home:

If you plan on selling your home in the near future (5 to 7 years) then it makes more sense to pay no discount points and go with a limited closing cost loan. Otherwise, by the time you recuperate the cost associated with your interest rate, you would have wasted your money/equity in your home.

For buying a home:

If you have limited funds and don’t plan on retiring in your home, then you do not want to waste money in buying down the rate with discount points.  You would probably rather opt-in for the lowest interest rate with limited closing costs and keep your money in the bank. We would be happy to answer any questions you have about a 15 year fixed rate mortgage.

professional_advice
professional_advice_mobile

When it comes to getting a mortgage

you have more options than you think

customer_for_life customer_for_life_mobile
  • How much mortgage do I qualify for?

    The #1 question first time home buyers ask is: How much mortgage do I qualify for? This is READ MORE
  • FHA loan requirements 2017 in Florida (Frequently asked questions)

    What is the maximum loan amount/limit 2017? Maximum loan amount vary by county for traditi READ MORE
  • #1 mistake when searching “Mortgage Rates Today”

    #1 mistake when searching “Mortgage Rates Today” The #1 mistake consumers make with th READ MORE
  • First Time Home Buyer Florida Program First Time Home Buyer Florida Program Update

    There is no magical way for a First time home buyer in Florida to get a mortgage loan to b READ MORE
  • No Closing Cost Mortgage Home Loan

    What is a no closing cost mortgage? A no closing cost mortgage is simply an option that is READ MORE
  • Who is Eligible for a Mortgage?

    While most people may think that everyone is at least eligible for a mortgage, this is not READ MORE
  • Why do some mortgage lenders require cash reserves?

    When it comes to mortgages, there are a lot of guidelines that must be followed, all of wh READ MORE
  • Secrets to Getting the Best HARP Program Rates for Your Underwater Mortgage

    Stay away from vultures that try to rob you out of your savings. Learn some of the ins and READ MORE
  • Condo Financing in Florida Condo Financing in Florida

    Purchasing a condo that needs financing is not as easy as purchasing a single family home. READ MORE
  • Jumbo Mortgage When Is a Jumbo Loan Needed?

    Jumbo loans are more common today since building larger homes in residential areas has bec READ MORE
  • Principal Reduction Florida Hardest Hit Fund FAQs

    Florida will distribute about $350 million towards homeowners by way of principal reductio READ MORE
  • Florida VA Loans Florida VA Loans Requirement and Funding Fees

    Florida VA loans are designed to give our military whether active or retired the benefit o READ MORE
  • Why choose a local mortgage broker over large lenders like Quicken Loans or banks?

    For instance, there is no doubt that quicken loans is one of the biggest mortgage lenders READ MORE
  • What you need to know when shopping for a HARP Loan

    Not every lender has the same HARP loan rates and qualifying requirements for homeowners i READ MORE
  • Refinancing

    Interest rates are at a historic low right now, so if you've been thinking about refinanci READ MORE
  • Purchase a Home

    Whether you are a first-time homebuyer, an investor, or someone looking to find the perfec READ MORE
  • Call Today! (407) 704-8729 Hours: 8:30am to 9:00pm EST

  • © 2016 Copyright © 2016 Copyright Florida Home Funding

    Sondi And Associates, Inc. dba Florida Home Funding. NMLS ID: 870878 Location: 390 N Orange Ave #2125, Orlando, FL 32801 | Phone: (407) 704-8729

    Content provided by The information provided on this site is for basic informational purposes only and IS NOT intended as a substitute for professional or legal advice.
  • Explore Florida Home Funding