You can save almost $100,000 on a
$120,000 home loan!
Examples are for illustration only. Subject to credit approval.
$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 |
