At the current average rate. monthly payments on a 15-year fixed refinance at that rate will cost around $740 per $100,000 borrowed. That’s clearly much higher than the monthly payment would be on.
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A 15-year fixed mortgage is a loan with a term of 15 years that has an interest rate that is fixed for the life of the loan. For example, a 15-year mortgage of $300,000 with a 20% down payment and an interest rate of 4% would have a monthly payment of about $1,775 (not including taxes and insurance).
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At the current average. Monthly payments on a 15-year fixed refinance at that rate will cost around $723 per $100,000 borrowed. The bigger payment may be a little harder to find room for in your.
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