A thirty-year fixed-rate mortgage is an alternative home loan with an unchanging interest rate for 30 years, providing security and monthly payments that remain constant.
It's a popular choice among homebuyers who plan to stay in their house for more than 7 full years because it offers lower monthly payments than shorter-term mortgages like 15-year fixed mortgages.
While 30-year fixed mortgages may carry slightly higher interest rates than 15-year mortgages, the extended repayment period of three decades results in lower monthly payments, making it easier for borrowers to qualify.
Hence, obtaining approval for a thirty-year fixed-rate mortgage is frequently simpler than for a 15-year mortgage.
Borrowers with good credit, stable income, and a moderate debt credit can easily get a 30-year fixed mortgage loan.
Wave Lending Group in Puyallup provides 30-year fixed mortgage loans. Our team's mission is to help with every step of the 30-year fixed mortgage loan and then guide you throughout the application and approval process, making it easier and hassle-free.
Contact us today to make homeownership achievable and affordable for you!
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