A 30 year fixed rate mortgage is the most popular loan in the industry. It is considered the “traditional” mortgage option as it is the loan product of choice for many borrowers. The loan features a “fixed” interest rate and monthly payment, which means that both will stay the same over the entire 30 year term of the loan. Many borrowers will select the 30 year fixed rate mortgage because of its low monthly payments. Also, they want the security of knowing that their payment will never increase.
- Low Monthly payment
- Monthly payment never changes
- Interest rate never changes
We’ll help you see the differences in loan programs and ultimately find the mortgage product that is going to best fit your financial needs.
*If you want to pay your loan off in half the time, with a slightly higher payment, than check out the 15 year fixed mortgage product.