A thirty-year fixed-rate mortgage is a different type of home loan with an unchanging interest rate for the span of 30 years, offering 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 years because it offers lower monthly payments than shorter-term mortgages like 15-year fixed mortgages.
While thirty-year fixed-rate mortgages may carry somewhat higher interest rates than 15-year mortgages, the extended repayment period of three decades results in reduced monthly payments, making it easier for borrowers to qualify.
Therefore, obtaining approval for a 30-year fixed mortgage is frequently simpler than for a 15-year fixed mortgage.
Borrowers with good credit, steady income, and a low 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 explain 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.
Call us today to make homeownership achievable and affordable for you!
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