Fifteen-Year Mortgage

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Fifteen-Year Mortgage

A mortgage with a maturity of 15 years. A 15-year mortgage usually has a higher payment than a 30-year mortgage because one pays a higher portion of the principal each month.
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Kurt Rogers, a fifteen year mortgage industry veteran, has been appointed Branch Manager of Gold Star's Centennial, CO Branch, Affordable Interest Mortgage, a division of Gold Star Mortgage Financial Group.
The new loan will have a seven year term and will be repayable monthly based on a fifteen year mortgage amortization schedule.