Definition of "15-year mortgage"

Victoria Ginty real estate agent
Victoria Ginty, Real Estate Agent RE/MAX Realty Unlimited

Mortgage loan where for a slight increase in the monthly payment, the loan can be paid off in only 15 years, The overall savings in interest paid to the lender over the life of the 15-year mortgage can be quite substantial, yet the monthly payment is not significantly higher.


Need help from a real estate agent?

Buy Sell Rent

I agree to receive FREE real estate advice.

Are you a realtor and want to become a member?

Residential Rental Commercial

I agree to receive FREE real estate advice.

Have a question or comment? We're here to help.


*** Your email address will remain confidential.


Popular Real Estate Terms

Popular Real Estate Questions