Short-term fixed-rate mortgages are ideal for homeowners who want to eliminate the biggest expense of their retirement budget. For homeowners who plan to pay off their mortgage before they retire, a 10 or 15-year fixed-rate mortgage can save thousands of dollars over long-term mortgages across the life of the loan.
“Our short-term fixed-rate solutions are perfect for homeowners who have some time left on their current mortgage, but want to take extra steps to pay off their homes early,” said Craig Esrael, President and CEO of First South. “Refinancing with a shorter-term loan can reduce their terms without dramatically increasing their monthly payments — leaving more room to manage other costs over time.” Short-term fixed-rate mortgages are also a sound financial decision for homeowners who are purchasing a second home, downsizing from their current home, or considering a major renovation.
First South is a leading provider of financial services to Mid-South communities, whose capital position creates competitive rates for customers. Ranked among the strongest banking institutions for financial strength and stability in the U.S., First South has enjoyed an A+ Weiss Rating, over 20 years of Bauer 5-star ratings and the longest history of perfect 300 IDC Financial Publishing scores of all the financial institutions in Tennessee. To learn more about First South’s short-term fixed-rate mortgages, please call 901-380-7530 or email firstname.lastname@example.org.