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

First Bank Southern Pines Review

A local bank can be the driving force behind the economy of a small community. With a population of under 14,000 residents and a strong economy—Southern Pines, North Carolina is backed by local banks like First Bank....

What is Required to Open a Business Checking Account?

It’s standard for a business to have a business checking account. After all, a business needs to handle cash and pay bills. If you’re just starting a business, or even if you’re moving your business bank...

Budgeting 101: Personal Budget Categories

When it comes to creating a personal budget, it can feel like there are a million financial categories to consider. In order to create a successful budget, everything should be accounted for, from large expenses like...

Construction Loans 101: Adjustable Rates

If you’re considering building a home, one of the more pressing concerns is the rate you’ll receive for a construction loan. For residents of the Carolinas, First Bank* has convenient locations to stop by for a...

HSA Rules and Regulations You Should Know

If you have a high-deductible health insurance plan, a Health Savings Account (HSA) can help you save for future medical expenses. Health Savings Accounts were established by the federal government as part of the Medicare...

Checking and Savings Account in Apex, NC

If you live in Apex, NC, and you’re looking for a great bank to open a checking and savings account, your local First Bank—near the corner of E Williams St and S Hughes St—can help. We offer...

What to Know About Joint Checking Accounts

Some of the biggest causes of stress in a relationship stem from finances. If you’re considering opening a joint checking account, there are some things you should know. Here are some common questions surrounding...

6 Steps to Starting a Small Business in North Carolina

First, you had an idea for a small business. Now, you want to set that idea in motion. If you are looking to start a small business in North Carolina, here are the first steps you can take to make your idea a profitable...

Raleigh Small Business Loans

Owning a new business or starting a new one in Raleigh is a bright venture, as it’s one of the fastest growing large metro economies in the country. Whether your business is a staple in the community or a budding...

Bank Rewards

What if you had a card that gave you the ability to redeem points for what you want when you want it? How would you feel if those points could be redeemed for travel, gift cards to restaurants, retail and merchandise...