Find out how a 25 year mortgage can help you save MORE!

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If you are looking into different mortgage financing options, you may find yourself doubting the difference or wondering if a 25 or 30 year mortgage might be the right option for you. There are many reasons why a 25-year mortgage might be the best option for you, such as being able to save on interest, pay off the loan faster, and build equity in your home faster.

Let’s do the math.

Let’s use a $ 300,000 loan as an example. If you receive a 30-year mortgage with an interest of 5.250% in April *, the principal and interest payment would be approximately $ 1,656.62. Multiply that payment by 360 (30 years of payments) you get a total payment amount of $ 596,383.20.

Now we do the same thing for a 25 year loan using an interest rate of 4.625% APR *. Making this calculation gives us a monthly payment of $ 1,688.85. When we multiply this by 300 (25 years of payments) we get a total payment amount of 506,655.00.

What is the difference?

In this example, we can see that you could save a total of $ 89,728.20, get out of debt five years earlier, and pay just $ 32 more each month.

Right now, you can take advantage of our special limited time 25 year mortgage. Stay up to date on special rates of by visiting our rates page.

Talk to a mortgage specialist

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* The Annual Percentage Rate (APR) is for illustrative purposes only and does not necessarily reflect any actual rates offered. The illustrative example does not include SMEs, taxes or insurance and the payments will be higher. The amount of proven savings should not be counted as the actual savings you will receive.

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