- Low fixed 10-year mortgage rates
- No Star One loan-related closing costs
- More home equity in a shorter amount of time
(Primary residences and second [vacation] homes only)
A mortgage with a shorter term and lower rate can help you be mortgage-free faster while saving lots of money in interest.
Compare 10-year mortgage and 30-year mortgage
Purchase or refinance mortgage
Today's mortgage rate for a 10-year fixed-rate mortgage for purchase or refinance, conforming to $1,209,750**, is 5.250% (5.344% APR).
In comparison, our 30-year fixed-rate mortgage for purchase or refinance, conforming to $1,209,750**, is currently at 6.125% (6.231% APR).
Disclosures
* Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 5.344% APR—120 monthly payments at $3,217.50; 15-year mortgage at 5.584% APR—180 monthly payments at $2,451.00; 20-year mortgage at 5.567% APR—240 monthly payments at $2,063.40; and 30-year mortgage at 6.181% APR—360 monthly payments at $1,822.80. Loan payments do not include taxes and insurance.
** In most of the country, the maximum conforming loan limit for one-unit properties is $806,500. In "high-cost" areas, the maximum conforming limit may be up to $1,209,750. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.
*** The Jumbo Loan limit is any amount greater than $806,500 up to $5,000,000. High-Balance Conforming allows for higher loan limits beyond the $806,500 conforming limit up to $1,209,750 for high-cost areas as determined by the Federal Housing Finance Agency (FHFA).