Consider refinancing to a 15-year fixed mortgage:
- If doing so will reduce the rate on your loan by 1% or more
- If you currently have an adjustable-rate mortgage and are looking for the security of a fixed-rate mortgage
- If you want to be mortgage debt-free within 15 years
- If you can afford the higher monthly payment in exchange for a lower total cost of borrowing
- If you want to tap into your home's equity for cash out without a home equity loan or line of credit
A U.S. Bank mortgage loan officer can help you decide if refinancing to a 15-year fixed mortgage is a good option for you. We also offer 20- and 30-year fixed refinance options. Check out today’s rates for 20-year fixed and 30-year fixed refinance loans. If you’re curious about the costs associated with refinancing, use our mortgage refinance cost calculator to get an estimate of how much it will cost.