A 30-year fixed mortgage is a different type of home loan with an unchanging interest rate for 30 years, offering security and monthly payments that stay the same.
It's a favored choice among homebuyers who expect to stay in their house for over 7 full years because it offers reduced monthly payments than shorter-term mortgages like 15-year home loans.
While thirty-year fixed-rate mortgages may carry slightly higher interest rates than 15-year fixed mortgages, the extended repayment period of three decades 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 15-year fixed mortgage.
Borrowers with good credit, consistent income, and a moderate debt loan 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 clarify every step of the thirty-year fixed-rate home loan and then guide you throughout the application and approval process, making it simpler and hassle-free.
Contact us today to make homeownership achievable and affordable for you!
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