You can save almost $100,000 on a
$120,000 home loan!
Too many people only consider the rate when shopping for a home loan. But the fact is there are other, better ways to save tens of thousands, even $100,000!
Most people assume they need a 30-year fixed rate loan. But due to a lower interest rate and shorter term, a 20-year or even a 15-year loan can save you a lot of money over the life of the loan.
| Term |
Rate |
Monthly Payment |
Total Interest |
You Save! |
Benefits |
| 30 year |
7.00% |
$798 |
$167,413 |
-- |
Get more house for your money |
| 20 year |
6.75% |
$912 |
$98,983 |
$68,430 |
A good balance between monthly payment and interest savings |
| 15 year |
6.50% |
$1,045 |
$68,159 |
$99,155 |
Save the most money in total interest |
Examples are for illustration only. Subject to credit approval. |
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