San Jose, CA (PRWEB) December 03, 2013
Shashank Shekhar, CEO of Arcus Lending, a California Mortgage Lender , in a recently published blog post evaluated the pros and cons of a 30 year fixed vs. a 15 year fixed mortgage loan.
While a 30 year fixed mortgage rate is the norm, there are multiple benefits associated with a 15 year fixed mortgage, provided the borrower understands the risks vs. the returns.
“There is huge saving on interest cost on a 15 year fixed provided a borrower qualifies for the loan and can make the payments on the higher mortgage amount. After all, a 15 year fixed mortgage allows a borrower to repay the loan in half the time, “said Shashank Shekhar.
In his recent blog post Shashank evaluated both the loan programs in detail to help potential borrowers make an educated decision.
Some of the benefits of a 15 year fixed loan are:
Some of the pitfalls of a 15 year fixed loan are:
Shashank Shekhar frequently blogs about mortgage on his highly rated blog. He is also the author of ebook titled “How to Shop Mortgage Rates Like a Pro”. This is available for free download at - http://www.arcuslending.com/ebook/.
About Arcus Lending:
Arcus Lending is a mortgage broker and a direct lender in California. They offer a variety of loan programs, quick closing and legendary customer service. They can be reached via email at Info(at)ArcusLending(dot)com and via phone at (408) 615-0655 or via their website http://www.arcuslending.com/. Watch quick video on the vision behind Arcus Lending.