15-Year Fixed Mortgage – The Speedy Payoff Plan
Think of this as the “hustle mode” mortgage. You pay off your home in 15 years instead of 30, meaning higher monthly payments but less interest paid overall. Perfect if you want to own your home faster and don’t mind bigger payments.
Best for: Homeowners who want to pay off their loan quickly & save on interest.
- Pros:
- Pay off your home in 15 years instead of 30
- Lower interest rates compared to a 30-year loan
- Save thousands in interest over time
- Cons:
- Higher monthly payments (so, less cash for vacations)
- Less flexibility if your budget is tight