A 30-year fixed mortgage is a different type of home loan with a consistent interest rate for the span of 30 years, providing security and monthly payments that stay the same.
It's a favored choice among homebuyers who plan to stay in their house for beyond 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 reduced 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 fifteen-year home loan.
Borrowers with good credit, stable 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 thirty-year fixed-rate home loan and then direct you throughout the application and approval process, making it easier and painless.
Contact us today to make homeownership accessible and affordable for you!
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