Today's average rate
30-year fixed rate:APR 6.779%
-0.02%
Today
-0.08%
Over 1y
15-year fixed rate:APR 5.886%
-0.02%
Today
-0.07%
Over 1y
5-year ARM rate:APR 7.640%
0.00%
Today
0.00%
Over 1y

Compare Today's 15-Year Fixed Mortgage Rates

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Why do you want a home loan?
Showing: Purchase, Good (720-739), 15-year fixed, Single family home, Primary residence
Showing: Purchase, Good (720-739), 15-year fixed, Single family home, Primary residence
License information

7 results:

15-year fixed

Simplist: NMLS#1764611
Simplist
4.5
Lowest APR
Lowest monthly payment
Conventional 15-year fixed
APR
5.75%
Interest rate
5.75%
Mo. payment
$3,322
Insurance $0
Total fees
-$268
EXPLORE QUOTEon Simplist
on Simplist
About this lender
Visit lender's website
Pros
  • Loan origination process can be completed online.
  • Offers government-backed FHA and VA loans.
  • Offers module that compares mortgage rates among other lenders.
Cons
  • Offers loans in many states and Washington, D.C., but not nationwide.
  • Does not offer home equity loans or lines of credit.
SimplistSimplist: NMLS#1764611
4.5
Lowest APR
Lowest monthly payment
Conventional 15-year fixed
APR
5.75%
Interest rate
5.75%
Mo. payment
$3,322
Insurance $0
Total fees
-$268
About this lender
Pros
  • Loan origination process can be completed online.
  • Offers government-backed FHA and VA loans.
  • Offers module that compares mortgage rates among other lenders.
Cons
  • Offers loans in many states and Washington, D.C., but not nationwide.
  • Does not offer home equity loans or lines of credit.
Farmers Bank of Kansas City: NMLS#613839
Farmers Bank of Kansas City
4.5
Great for Rate transparencyConventional 15-year fixed
APR
5.877%
Interest rate
5.875%
Mo. payment
$3,349
Insurance $0
Total fees
$55
About this lender
Pros
  • Displays customized rates, with fee estimates, without requiring contact information.
  • Offers home equity loans and lines of credit.
  • Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.
Cons
  • Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
  • Home renovation loans are not available.
  • Mortgage rates are on the high side compared to other lenders, according to the latest federal data.
Farmers Bank of Kansas CityFarmers Bank of Kansas City: NMLS#613839
4.5
Great for Rate transparencyConventional 15-year fixed
APR
5.877%
Interest rate
5.875%
Mo. payment
$3,349
Insurance $0
Total fees
$55
About this lender
Pros
  • Displays customized rates, with fee estimates, without requiring contact information.
  • Offers home equity loans and lines of credit.
  • Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.
Cons
  • Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
  • Home renovation loans are not available.
  • Mortgage rates are on the high side compared to other lenders, according to the latest federal data.
First Federal Bank: NMLS#408902
Conventional 15-year fixed
APR
5.912%
Interest rate
5.875%
Mo. payment
$3,349
Insurance $0
Total fees
$955
About this lender
Pros
  • Offers government-backed loans and some harder-to-find products, such as jumbo loans for investment and multifamily properties.
  • Home renovation loans are available.
  • Offers home equity loans and lines of credit.
Cons
  • Mortgage rates are not published online.
  • Bank branches are limited to eight states.
  • Consumers might have trouble finding contact information.
First Federal BankFirst Federal Bank: NMLS#408902
Conventional 15-year fixed
APR
5.912%
Interest rate
5.875%
Mo. payment
$3,349
Insurance $0
Total fees
$955
About this lender
Pros
  • Offers government-backed loans and some harder-to-find products, such as jumbo loans for investment and multifamily properties.
  • Home renovation loans are available.
  • Offers home equity loans and lines of credit.
Cons
  • Mortgage rates are not published online.
  • Bank branches are limited to eight states.
  • Consumers might have trouble finding contact information.
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer serviceConventional 15-year fixed
APR
5.923%
Interest rate
5.875%
Mo. payment
$3,349
Insurance $0
Total fees
$1,227
About this lender
Call (888) 871-2381|
Pros
  • Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
  • Offers low rates and fees compared with other lenders, according to the latest federal data.
  • Displays customized rates, with fee estimates, without requiring contact information.
Cons
  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
NBKCNBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer serviceConventional 15-year fixed
APR
5.923%
Interest rate
5.875%
Mo. payment
$3,349
Insurance $0
Total fees
$1,227
Pros
  • Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
  • Offers low rates and fees compared with other lenders, according to the latest federal data.
  • Displays customized rates, with fee estimates, without requiring contact information.
Cons
  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
Central Bank: NMLS#407985
Central Bank
4.0
Conventional 15-year fixed
APR
5.992%
Interest rate
5.99%
Mo. payment
$3,374
Insurance $0
Total fees
$56
About this lender
Pros
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
Cons
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
Central BankCentral Bank: NMLS#407985
4.0
Conventional 15-year fixed
APR
5.992%
Interest rate
5.99%
Mo. payment
$3,374
Insurance $0
Total fees
$56
About this lender
Pros
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
Cons
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
Northpointe: NMLS#447490
Conventional 15-year fixed
APR
6.038%
Interest rate
6%
Mo. payment
$3,376
Insurance $0
Total fees
$959
Pros
  • Offers government-backed FHA and VA loans, including refinancing options, and USDA loans.
  • Jumbo loans available for vacation homes and investment properties.
  • Offers programs for borrowers with credit challenges, self-employed borrowers and professionals early in their careers who may still carry significant debt.
Cons
  • Mortgage rates are not published online.
  • Origination fees are on the high side, according to the latest federal data.
  • Doesn’t offer home equity loans or lines of credit.
NorthpointeNorthpointe: NMLS#447490
Conventional 15-year fixed
APR
6.038%
Interest rate
6%
Mo. payment
$3,376
Insurance $0
Total fees
$959
Pros
  • Offers government-backed FHA and VA loans, including refinancing options, and USDA loans.
  • Jumbo loans available for vacation homes and investment properties.
  • Offers programs for borrowers with credit challenges, self-employed borrowers and professionals early in their careers who may still carry significant debt.
Cons
  • Mortgage rates are not published online.
  • Origination fees are on the high side, according to the latest federal data.
  • Doesn’t offer home equity loans or lines of credit.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer serviceConventional 15-year fixed
APR
7.04%
Interest rate
6.99%
Mo. payment
$3,594
Insurance $0
Total fees
$1,250
About this lender
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Offers the option to work with loan officers by phone if desired.
  • Largest FHA lender in the nation.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
  • Doesn't offer home equity lines of credit.
Rocket Mortgage, LLCRocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer serviceConventional 15-year fixed
APR
7.04%
Interest rate
6.99%
Mo. payment
$3,594
Insurance $0
Total fees
$1,250
About this lender
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Offers the option to work with loan officers by phone if desired.
  • Largest FHA lender in the nation.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
  • Doesn't offer home equity lines of credit.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.


A Beginner’s Guide to 15-Year Mortgages
Last updated on July 2, 2024
Written by 
Senior Writer/Spokesperson
Michelle Blackford
Reviewed by 
Alice Holbrook
Edited by 
Fact Checked
Assigning Editor
Fact Checked
Holden Lewis
Written by 
Senior Writer/Spokesperson
Michelle Blackford
Reviewed by 
Alice Holbrook
Edited by 
Fact Checked
Assigning Editor
Fact Checked

What is a 15-year fixed-rate mortgage?

A 15-year fixed-rate mortgage is a home loan that keeps the same interest rate and monthly principal-and-interest payment over the 15-year loan period. 15-year mortgages can be used to buy a home or to refinance an existing home loan.

15-year mortgages usually have lower interest rates than 30-year mortgages, but the monthly payments tend to be higher because borrowers repay the money in half the time. However, because borrowers pay off 15-year mortgages faster, they’ll pay less interest over the life of the loan.

The 15-year mortgage is a popular option among homeowners who refinance out of their 30-year purchase mortgages.

How to find current 15-year mortgage rates

NerdWallet’s mortgage rate tool can help you find competitive 15-year fixed mortgage rates. In the filters above, enter a few details about the loan you’re looking for, and you can see rate quotes without providing personal information.

Mortgage rates vary daily and are influenced by the economy’s overall rate of growth, the inflation rate and the health of the job market. Unpredictable events can affect all of those factors. NerdWallet’s mortgage interest rates forecast gives a snapshot of current trends, along with a forecast for the month.

15-year mortgage rates vary by lender

Each lender offers its own combination of interest rate and fees, so you can save money by comparison shopping and applying with multiple lenders.

After you submit complete mortgage applications, each lender will provide you with a Loan Estimate form. This will let you compare interest rates, origination fees and closing costs and give you confidence that you’re getting the right loan for your situation.

Is it worth refinancing to a 15-year mortgage?

You build home equity faster with a 15-year mortgage than with a 30-year mortgage, and you’ll pay less interest over the life of the loan with a 15-year mortgage. But the monthly mortgage payment will be higher, potentially squeezing your household budget.

In short, a 15-year mortgage makes you pay more every month, but it can save you money in the long run. It's a trade-off that requires you to make a judgment call.

15-year fixed mortgage: Pros and cons

Pros

  • Average interest rates are lower for 15-year mortgages than for home loans with longer terms.

  • You save money with a 15-year mortgage because you pay interest for fewer years.

  • You build equity faster with a 15-year mortgage.

Cons

  • Monthly payments for a 15-year mortgage are higher than for a mortgage with a longer term.

  • The higher monthly payments on a 15-year mortgage will mean you’ll qualify for a less-expensive home than if you stretched out the loan to 20 or 30 years.

  • Because of the higher monthly payment, you’ll have less money available for other investments, such as retirement accounts.

Learn more about fixed-rate loans:


About the author: Holden is NerdWallet's authority on mortgages and real estate. He has reported on mortgages since 2001, winning multiple awards.

NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.

Freddie Mac. Refinance Trends in the First Half of 2021. Accessed Jul 2, 2024.

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