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The possible disadvantages associated with a 15-year fixed rate mortgage are: The monthly payments for this type of loan are roughly 10 percent to 15 percent higher per month than the payment for a 30-year. Because you’ll pay less total interest on the 15-year fixed rate mortgage, you won’t have the maximum mortgage interest tax deduction possible.
be able to afford the loan (in relation to your income and outgoings) It takes just 3 minutes to find out if you’re eligible and see your personalised rates. Don’t worry, this won’t affect your credit score. Please keep in mind, we can’t offer joint applications or guarantor loans.
About the authors: The above article "Top 5 Reasons A Mortgage Is Denied After Pre-Approval" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise.
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