SunTrust Mortgage, Inc. - Why Should I Want A 15 Year Loan?


	SunTrust Library

	Glossary

	News

	FAQs


	Today's Rates

	Rate Watch

	Calculators

	Loan Officer Finder


	Fixed Rate

	Adjustable Rate

	Affordable Housing

	Jumbo

	Mortgages for Special Needs

	FHA / VA

	Payment Options


	Purchase

	Refinance

	Custom Quote


	SunTrust Mortgage in Brief

	Awards and Achievements

	Press Room

	Customer Service

	Compass Award

	State Licensing

	Privacy

	Security

	Business Partners

	STM Careers

	Loan Officer Finder

	Our Vision

	Fair Lending


Today's Rates
	Rate Watch
	Custom Quote
	Informational Rates
	Rate History
	Loan Officer Finder
	APR Examples
Site Index
Search
Contact Us

Why Should I Want A 15 Year Loan?

The most common loan applied for throughout the country is a fixed rate 30 year mortgage. That might be the right choice for you. But have you considered a fifteen year loan? What do you have to gain by choosing a shorter term?

A 15 Year mortgage carries a lower interest rate right from the start, compared to a 30 year loan, as much as 1/2% or more.
A 15 Year loan will typically cost you tens of thousands less in interest over the term of your loan than a 30 year loan
A 15 Year loan will mean your house is paid off in half the time - perhaps just in time to pay for college tuition for your children or elder care for your parents
A 15 Year loan will help you build up equity in your home much faster - enabling you to receive more in cash if you have to sell before the loan is paid in full.
A 15 Year loan, while more expensive each month, is NOT twice as expensive as a 30 year loan -- it is more affordable than you may think!.
A 15 Year loan means that you are putting more of your disposable monthly income toward paying off your mortgage debt than in other investment vehicles. Against most competitive investments, your house compares quite favorably.

©2010 SunTrust Banks, Inc. All rights reserved.

Equal Housing Lender | Licensing | Privacy | Security | Mortgage Home

srvc