A 30-year fixed mortgage is a distinct home loan with a consistent interest rate for 30 years, offering stability and monthly payments that never change.
It's a popular choice among homebuyers who expect to stay in their house for more than 7 years because it offers lower monthly payments than shorter-term mortgages like 15-year home loans.
While 30-year fixed mortgages may carry slightly higher interest rates than fifteen-year home loans, the extended repayment period of 30 years results in reduced monthly payments, making it easier for borrowers to qualify.
Hence, obtaining approval for a thirty-year fixed-rate mortgage is often simpler than for a fifteen-year home loan.
Borrowers with good credit, consistent income, and a moderate debt credit can easily get a 30-year fixed mortgage loan.
Wave Lending Group in Puyallup provides thirty-year fixed-rate home 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 simpler and hassle-free.
Call us today to make homeownership achievable and affordable for you!
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