Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

15-Year North Carolina Mortgage Rates

Looking for information and assistance in choosing a 15-year mortgage rate that suits your needs? First Bank has a North Carolina location nearby that can help you with your decision to invest in a 15-year mortgage.

15-year North Carolina mortgage rates can vary and depend on a number of factors with your application, but to get a rough idea of the current average rates check out the Mortgage News Daily.

15-Year North Carolina Mortgage Rates | First Bank

First Bank offers conventional fixed-rate mortgages in terms of 15, 20, and 30 years. Our 15-year fixed-rate mortgages offer predictable monthly payments, as your interest rate and your total monthly payment of principal and interest will remain the same for the duration of the loan.

Benefits include:

  • Predictable monthly P&1 payments allow you to budget easily
  • Protection from rising interest rates for the duration of the loan
  • Overall interest paid on 15-year mortgages will be less than other longer-term loans

15-Year Mortgage Rates

Understanding Mortgage Rates in North Carolina

One advantage of a 15-year mortgage rate is that it has a more competitive interest rate than that of its 30-year counterpart. A 15-year mortgage rate may allow the borrower to pay less interest over the duration of the mortgage and build equity more quickly.

However, the disadvantage is that your monthly mortgage payments might be higher than that of a 30-year mortgage because you are essentially paying off the mortgage in half the amount of time.

Mortgage rates come in the form of fixed or adjustable. The advantage of a fixed-rate mortgage is that your interest rate and mortgage payments will never change during the lifetime of your mortgage. Because of this stability, fixed-rate mortgages are the most popular kind of home mortgages.

Adjustable rate mortgages (ARM) come with a fluctuation of interest rates from year to year that are dictated by and reflective of the market.

Regardless of the type of the mortgage you choose, the payment of principal itself is only a portion of what’s included in a monthly mortgage payment. Borrowers also must pay the interest, and typically property tax, property insurance, and sometimes mortgage insurance.

Compare 15-Year NC Mortgage Rates at First Bank

First Bank has several convenient locations in North Carolina and offers mortgages of all types for homes and businesses. Get a free consultation from one of our mortgage experts and take the first step toward your 15-year mortgage today.

For more information about First Bank, check out some of our related articles:

What Are 15-Year Mortgage Rates

First Home Mortgage

Home Mortgage Calculator

Mortgage Basics


Loans subject to credit approval. Equal Housing Lender. NMLS #474504.

———-

Sources:

Mortgage Daily News: http://www.mortgagenewsdaily.com/mortgage_rates/north-carolina.aspx
About: http://financialplan.about.com/lw/Business-Finance/Personal-finance/15-Year-Mortgage.htm
Investopedia: http://www.investopedia.com/articles/pf/05/031605.asp

Trending Topics

Small Personal Loans – Jacksonville, NC

Finding small personal loans in Jacksonville, NC, can be beneficial when you need a little extra money. Whether it’s for a planned or unexpected expense, a personal loan can help you cover the cost. Find a Small...

First Bank Loans

Between banks and online lenders, you have a lot of options to choose from when you need a loan. But not all loans are created equal, and First Bank loans are a step above the rest. If you are in need...

Best Small Business Bank – Florence, SC

Florence, South Carolina boasts one of the best business climates in the southeast. The city of Florence is bustling with shops, restaurants, festivals, farmers markets, and much more. If you’re looking for a great...

Realize Your Dream with a Competitive New Business Loan – Asheville, NC

First Bank is the lender of choice for many borrowers in Asheville, North Carolina. A new business loan can allow you to pay for startup costs such as equipment, supplies, vehicles or inventory. Businesses Loans and...

Compare First Time Mortgage Rates with First Bank

When you’re ready to buy a house, it’s easy to get caught up in all of the excitement of shopping and forget about the financial aspect. Once you’ve found the perfect house, the first thing you may be...

First Bank: Financing Loans for Businesses

Choosing a bank to finance the right loan for your business is a critical decision. There are loans that cater to the established business looking to expand, and there are loans for the entrepreneur just getting...

Calculate Your Monthly Mortgage Loan Payment (with Taxes and Insurance)

A mortgage loan calculator with taxes and insurance can help prospective homeowners prepare for the financial responsibility of owning a home. Purchasing a home may be one of the biggest decisions you ever make, so it is...

Get a Stress-Free Student Checking Account at First Bank in Wilmington, NC

If you are a college student in Wilmington, North Carolina, you’re probably more worried about studying than paying attention to your checking account. First Bank gets it — we offer a hassle-free student...

Find Remodeling Loans in Asheville, NC

First Bank offers remodeling loans in Asheville, NC, for homes or businesses to get you started on turning your vision into a reality. Our Asheville loan officers will work with you to establish a loan and complete the...

Where to Get Small Business Loan Rates

So you’ve decided to start a small business, and you have everything sorted out. Business plan…check, location, check. Small business loan rate quotes….not checked. Okay, so you have almost everything...