15-year refinance rates

Compare our current refinance rates for 15-year fixed mortgages. VA loans are for eligible military. Jumbo loans are for mortgages starting at $766,550 and up in most areas of the U.S.

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Purchase rates

Monthly payment examples below are for a loan amount of $275k ($1,100k on Jumbo). Taxes and insurance not included within the estimate; actual payment amount will be greater.

15-year fixed

Rate

5.5%

APR
5.973%

Monthly payment$2,247

Points

1.875 ($5,157)

Estimate my rate Learn about 15-year fixed loans

15-year FHA

Rate

5.125%

APR
6.046%

Monthly payment$2,227

Points

1.75 ($4,813)

Estimate my rate Learn about FHA loans

15-year VA

Rate

5.125%

APR
5.941%

Monthly payment$2,193

Points

1.875 ($5,157)

Estimate my rate Learn about VA loans

15-year VA jumbo

Rate

4.875%

APR
5.571%

Monthly payment$8,628

Points

1.875 ($20,625)

Estimate my rate Learn about jumbo loans
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Rates are current as of 1:53 AM UTC on June 11, 2026

Legal Disclosures

Every situation is different. These figures are for estimation purposes only and may not reflect the exact terms of your loan. This is not a commitment to lend.

15-year Fixed-Rate Loan: Payment assumes a loan-to-value (LTV) of 60.00%.

15-year FHA Fixed-Rate Loan: Payment assumes a loan-to-value (LTV) of 60.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.15% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 60.00%, the 0.15% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

15-year Fixed-Rate VA Loan: Payment assumes a loan-to-value (LTV) of 60.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

15-year Fixed-Rate VA Jumbo Loan: Payment assumes a loan-to-value (LTV) of 70.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

Assumptions
For all rates shown, unless otherwise noted, we assumed:

  • You’re refinancing a single-family home that’s your primary residence.
  • Your debt-to-income ratio is less than 43%.
  • Your credit score is 740.
  • You’ll have an escrow account for payment of taxes and insurance.

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If you’re watching rates, what you see is rarely what you’ll get. Start an application or Chat with a Home Loan Expert to see what your rate could be.

Many factors determine your 15-year refinance

You can control some things that influence your interest rate, like your financial details. Other things, not so much. Here are some of the factors that impact rates.

Economic

The stock market, the Federal Reserve, inflation and the housing market all affect mortgage rates.

Personal

Your credit profile, your debt compared to your income, and how much you’re borrowing help determine your mortgage rate.

Loan type

Conventional, FHA and VA loans (mortgages for eligible military) are all available as a 15-year mortgage, but often have different rates.

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Pros and cons of a 15-year refinance

Pros

Pay off your mortgage faster by refinancing to a shorter term.

Refinancing to get cash to consolidate debt? Depending on the loan you’re refinancing, a 15-year refi could get you the cash you need.

Interest rates are typically lower with shorter term refinances because it doesn’t take as long for lenders to get reimbursed for the loan.

Cons

There are costs for getting a new mortgage. If the financial benefits you get from refinancing don't outweigh the costs, it's probably not the right move.

Your monthly payment will increase if you're refinancing to a shorter term, because your loan amount will increase.

A 15-year mortgage can be hard to qualify for. Because your monthly payment will be larger, you could need more income or less debt to qualify compared to a 30-year mortgage.

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We lowered our interest rate which saves us money now and in the long run. The process was quick with Rocket.

Carrie

I was extremely impressed with the loan rate I received and how our loan officer worked to find the best finance options for our particular circumstances.

John H.

Saved us 500$ a month on our mortgage with a fixed rate.

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15-year refinance rate frequently asked questions

Don’t see your question here? We love helping people understand how rates work and what yours could be.

When you refinance, you get a new mortgage that’s used to pay off your previous one. A 15-year home loan is a mortgage that gives you up to 15 years to pay off.  

When we say “15-year fixed mortgage” we’re usually talking about a conventional loan. You can also get FHA, VA and jumbo home loans that have a 15-year term.

Whatever kind you get, most 15-year mortgages have a fixed interest rate: it stays the same as long as you have the loan.

It depends on your finances and what you’re hoping to do.  

If you started with a 30-year mortgage, but you want to pay off your principal and built equity faster, a 15-year mortgage could be right for you.  

That’s why it’s best to talk about your goals with a Home Loan Expert. They’ll look at all your options and help you understand what’s right for you.

Refinancing is replacing your current mortgage with a new one. The steps are similar to getting a mortgage when you buy a home.

  • Start an application or contact us so we can learn about your goals and your existing mortgage.
  • If refinancing looks right for you, we’ll walk you through your options. These can include refinancing to a 15-year loan.
  • You’ll start the process of getting your mortgage.
  • You may need an appraisal and will likely need to provide documents.

Closing your loan for a refinance can be more streamlined than buying a home. You may not need any cash at closing because costs are often rolled into the new loan. And many of our clients close from their own home using a computer and smartphone.

Home loan interest rates, including 15-year refi rates, are set based on several factors:

  • The economy
  • Decisions made by the Federal Reserve, the central bank of the U.S.
  • Your credit profile
  • The amount you’re refinancing
  • The value of your home
  • The length of your loan

To really understand what your rate will be, apply or talk to a Home Loan Expert.

Here are some general guidelines that help you qualify for 15-year fixed refinance rates. If you don’t meet them all, are close on some, or you’re eligible military, talk to us to see what’s possible.  

  • A credit score above 620
  • Less than half your income going to debt
  • Enough equity in your home  

Equity is the difference between what you owe on your home and its value. How much is “enough” depends on what you want to do, and the kind of loan you qualify for.

Here are some comparisons between having a 15-year term mortgage and a 30-year term mortgage. Remember you may have other options than just 15 and 30. We can help you understand what works best for you.

  • Monthly payment: Higher for a 15-year, lower for a 30-year.
  • Interest paid over the life of the loan: Less for a 15-year, more for a 30-year.
  • Building equity: Faster for a 15-year, slower for a 30-year.
Important legal disclosures

Refinancing may cause finance charges to be higher over the life of the loan.