A thirty-year fixed-rate mortgage is an alternative home loan with an unchanging interest rate for the span of 30 years, offering security and monthly payments that stay the same.
It's an appealing choice among homebuyers who intend to stay in their house for over 7 full 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 15-year mortgages, the extended repayment period of three decades results in lower monthly payments, making it easier for borrowers to qualify.
Hence, obtaining approval for a thirty-year fixed-rate mortgage is frequently simpler than for a 15-year mortgage.
Borrowers with good credit, consistent 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 clarify every step of the 30-year fixed mortgage loan and then guide you throughout the application and approval process, making it easier and stress-free.
Contact us today to make homeownership attainable and affordable for you!
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