How We Get Paid

We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. We are a wholesale broker, meaning we have access to rates our mortgage lenders offer solely to brokers they work with. Generally, our lenders pay us and incorporate the cost of our services as part of the final interest rate on your loan, or in your loan amount. This is common practice in mortgage transactions where you choose for the lender to pay your broker’s fee upfront. If you would prefer to minimize your rate, you may opt to buy "points" to decrease your rate, or pay our broker compensation yourself. Please talk to one of our licensed loan officers to explore your options.

15 year fixed refinance rates

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How it works

How to find the right mortgage refinance loan for you

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Checking rates won’t affect credit score

  1. Get prequalified rates in 3 minutes:

    It's quick and painless. Tell us a little bit about you and your home to get accurate prequalified rates without impacting your credit score.

  2. Compare rates from multiple lenders:

    View the interest rate and cost breakdown of each loan to choose the best lender and loan product for you. Need help? Our mortgage team is not commissioned, so they're always on your side.

  3. Upload documents on Credible:

    We take the stress out of refinancing by automating the document collection process, keeping you updated on the status of your application every step of the way.

  4. Finish your loan with us:

    With Credible, you can complete the whole refinance process online. We have a team of dedicated mortgage experts ready to help you if you need it.


What is a 15-year mortgage refinance

With a 15-year fixed mortgage refinance, you can refinance your existing mortgage to take advantage of lower rates. The new loan will have different terms than your old one, including interest rate, monthly payment, and loan term.

With a 15-year refinance, rates tend to be lower than loans with longer loan terms, so you can save money over the length of your loan. And, you can pay off your loan sooner.


Advantages of a 15-year fixed mortgage refinance rate

  1. Lower interest rate:

    By opting for a shorter term, you’re eligible for lower interest rates than you’d get with a 30-year fixed mortgage refinance.

  2. Earlier payoff date:

    When you select a 15-year fixed mortgage refinance, you’ll be able to pay off your mortgage faster.


Disadvantages of a 15-year fixed mortgage refinance rate

  1. Higher monthly payments:

    With a shorter loan term, your monthly payments might be bigger than they were before. If you’re not prepared, those higher payments might strain your budget.

  2. Closing costs:

    When you refinance your loan, you’ll have to pay closing costs. These costs can be a portion of your home loan amount, adding thousands to your loan cost. Keep in mind, though, that this will typically only be a disadvantage if you plan on selling your house soon. If you sell before the point when the benefits of the refinancing outweigh the closing costs, then you've lost money.


How to get the best rate for a 15-year fixed mortgage refinance

If you want to refinance your home mortgage to a 15-year refinance loan to take advantage of lower interest rates, compare rates from multiple lenders before submitting your application. Interest rates and loan terms can vary widely from lender to lender, so use Credible to compare mortgage rates from several lenders at once.

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When is the right time to refinance?

The best time to refinance your home loan is when market conditions are favorable for borrowers. A good time to shop around for mortgage refinancing rates can be when the Federal Reserve lowers interest rates. With a 15-year refinance loan, you could qualify for a much lower rate on your mortgage.

Find Out: 

What Is a Mortgage Rate and How Do They Work?


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