A 30-year fixed mortgage is a distinct home loan with an unchanging interest rate for the span of 30 years, providing security and monthly payments that stay the same.
It's an appealing choice among homebuyers who expect to stay in their house for beyond a duration of 7 years because it offers lesser monthly payments than shorter-term mortgages like 15-year fixed mortgages.
While thirty-year fixed-rate mortgages may carry somewhat higher interest rates than fifteen-year home loans, the extended repayment period of 30 years results in lower 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 15-year fixed mortgage.
Borrowers with good credit, steady income, and a moderate 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 clarify every step of the 30-year fixed mortgage loan and then lead you throughout the application and approval process, making it simpler and painless.
Call us today to make homeownership achievable and affordable for you!
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