Paying off your home is exciting
Refinancing for a shorter time period can help you get there faster.
Benefits of paying off your home sooner
You could save in interest over the life of your loan. And if mortgage interest rates are falling, you may be able to keep your monthly payments close to where they are now.
Refinancing from 30 years to 15 years
Refinancing from a 30-year mortgage to a 15-year mortgage is one of the most common options people choose for shortening their loan term. With this option your payments will likely increase, but you’ll own your home sooner and save a lot of money in interest.
