Almost any lender that offers a fixed-rate mortgage will offer a 10-year mortgage. Mortgage rates for a 10-year mortgage usually aren't any better than the rates offered for a 15-year mortgage. That said, be sure to shop around to find a competitive rate. Getting a fixed-rate mortgage with a term as short as 10 years will save you a lot of money on interest costs.
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More help from HSH.com
- What is a rate and term refinance?
Homeowners have a variety of reasons for refinancing and each reason can indicate that one refinance option or another makes the most sense. - Are ten-year fixed-rate mortgages (FRM) available anywhere?
Sure! Virtually all lenders who sell product to Fannie Mae or Freddie Mac will be able to offer you mortgage with a 10-year term. However, interest rates are usually the same as the lender's 15-year offerings. - Can I get copies of checks from a past refinance?
It's not going to be easy, that's for sure. - Can I refinance an underwater ‘kiddie condo’?
If the home is underwater, HARP is really your only option. - Will shopping around for a refinance affect my credit?
Credit bureaus usually treat multiple applications to different lenders as a single entry in your credit file.
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