At Simply Approved Mortgages, we specialize in helping you achieve your homeownership dreams with our 15-year fixed-rate mortgage options. This popular mortgage plan is designed for those who want to benefit from lower interest rates and build equity quickly. Whether you’re buying a new home or refinancing your existing mortgage, our expert team is here to guide you every step of the way.
This ratio measures your property’s income against its debt obligations. A DSCR greater than 1 indicates that your property generates more income than needed to cover its debt.
Pay off your mortgage in half the time compared to a 30-year loan, allowing you to build equity in your home more rapidly.
Save thousands of dollars over the life of your loan. With a 15-year mortgage, you pay less in interest compared to longer-term loans.
Your interest rate remains constant throughout the term of the loan, ensuring predictable monthly payments.
Your principal and interest payments remain the same every month, making budgeting easier.
As the name suggests, you’ll be paying off your mortgage over a 15-year period.
The DSCR loan market is anticipated to continue its upward trajectory, driven by investor confidence and evolving financial needs.
Proof of stable and sufficient income to support your mortgage payments.
A down payment is often required, with typical amounts ranging from 10% to 20% of the home’s purchase price.
Our experienced mortgage advisors provide personalized guidance to help you find the best mortgage solution.
We offer some of the most competitive rates in the market to ensure you get the best deal.
Our streamlined application process ensures quick and hassle-free approvals.
The main difference is the loan term. A 15-year mortgage has a shorter term and typically offers lower interest rates, but the monthly payments are higher compared to a 30-year mortgage.
Yes, you can make additional payments or pay off your mortgage early without penalty in most cases. Check with your lender for specific terms.
Simply fill out our online application form or contact one of our mortgage advisors to start the pre-approval process.
Simply Approved Mortgages is committed to providing top-notch mortgage solutions and exceptional customer service. Learn more about our services and team.
Company State License# AZMB - 0944059 | NMLS# 1660690