15-Year vs. 30-Year Mortgage
A 15-year mortgage repays principal faster with higher payments, while a 30-year mortgage lowers required payments but usually increases lifetime interest.
Fixed-rate mortgage mechanics, loan-term tradeoffs, permanent discount points, and savings-linked offset structures.
This branch explains mortgage structures that change rate certainty, amortization speed, upfront pricing, or the balance used to calculate interest.
Start with Fixed-Rate Mortgage for note-rate and payment mechanics. Compare repayment horizons in 15-Year vs. 30-Year Mortgage.
Permanent Mortgage Buydown covers discount-point pricing and break-even analysis. Offset Mortgage explains how eligible deposits can reduce the net interest balance while remaining separately accessible.
Mortgage pricing and product rules vary by lender and jurisdiction. This material is educational and is not individualized mortgage, legal, tax, or financial advice.
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A 15-year mortgage repays principal faster with higher payments, while a 30-year mortgage lowers required payments but usually increases lifetime interest.
A fixed-rate mortgage keeps the same note interest rate for its contractual term, making scheduled principal-and-interest payments predictable.
An offset mortgage links eligible savings to a mortgage so interest is calculated on a lower net balance while the savings remain in a separate account.
A permanent mortgage buydown uses upfront discount points to obtain a lower note rate for the loan term, subject to the lender's pricing and loan terms.