A 30-year fixed mortgage is an alternative home loan with a consistent interest rate for three decades, providing stability and monthly payments that never change.
It's a favored 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 slightly higher interest rates than 15-year fixed mortgages, 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 typically simpler than for a 15-year mortgage.
Borrowers with good credit, stable income, and a low debt loan 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 thirty-year fixed-rate home loan and then lead you throughout the application and approval process, making it simpler and stress-free.
Contact us today to make homeownership attainable and affordable for you!
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