A 15 year fixed mortgage is probably the right loan for you if you are aggressively trying to pay off the balance of your home loan. These loans offer the security of a fixed rate, but have payments significantly higher than the 20 year fixed and 30 year fixed alternatives. Much like 20 year mortgages, you will be rewarded for opting for a shorter term as 15 year fixed rates are about .25% lower than 20 year fixed rates and about .50% lower than 30 year fixed rates.