Thursday, August 28, 2014

Can I pay a 30 year fixed rate mortgage in 15 years?

Do most mortgage lenders let you make additional payments toward the mortgage without any penalties? I want to get a 30 year mortgage and try to pay it off in 15 years or less. I could possibly get a 15 year fixed rate mortgage but I wouldn't have much wiggle room if something were to happen to my job or if we several shutdowns. I have never had a mortgage before but I will probably get my mortgage through Wells Fargo. Do they charge any fees or penalties for trying to pay off a mortgage as soon as possible?

Read more: Can I pay a 30 year fixed rate mortgage in 15 years?