Long Island Banking Rates

Best 15-Year Fixed Mortgage Rates in Long Island, NY

Whether you have a tight budget or have lots of cash to spare, it doesn’t make sense for you to pay more for your property than necessary. Finding the lowest mortgage rates in Long Island and locking in a low loan rate is the key to making your next home purchase affordable.

Even so, with so many loan types and terms to choose from, how do you decide where to begin? How about with one of the more common choices in the city? For instance, many homeowners opt for a Long Island 15-year fixed mortgage for the numerous benefits this type of home loan has to offer.

Why Choose a Long Island 15-Year Fixed Mortgage?

If you’re not sure whether a 15-year fixed rate mortgage is right for you, consider some of the benefits they offer mortgage holders:

  • Interest rate: Fixed rate mortgages usually provide some of the lowest interest rates, and the average 15-year fixed rate recently dropped to the lowest point in history.
  • Reliability: A home loan with a fixed rate remains stable throughout the term. Since the interest rate stays the same, there aren’t any surprises when the mortgage payment is due.
  • Pay off faster: Since a 15-year term in shorter than some other fixed rate options, you’ll pay off your loan faster.

Best Mortgage Rates in Long Island: 15-Year Fixed

We’ve compiled a list of the lenders in and around Long Island who are currently offering the best Long Island mortgage rates for a 15-year fixed loan:

[mortgageratelist product=”15″ order=”desc” count=”5″ fees=”on” points=”on”]

Please note that Long Island mortgage rates are accurate as of October 1, 2011, but may change at any time in the future. Please contact individual lenders to verify rates and find out about additional details and requirements.