A thirty-year fixed-rate mortgage is an alternative home loan with a consistent interest rate for three decades, providing stability and monthly payments that remain constant.
It's a favored choice among homebuyers who intend to stay in their house for beyond 7 years because it offers lesser 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 30 years results in lower monthly payments, making it easier for borrowers to qualify.
Therefore, obtaining approval for a thirty-year fixed-rate mortgage is typically simpler than for a fifteen-year home loan.
Borrowers with good credit, steady income, and a moderate debt credit can easily get a thirty-year fixed-rate home loan.
Wave Lending Group in Puyallup provides thirty-year fixed-rate home loans. Our team's mission is to explain every step of the 30-year fixed mortgage loan and then direct you throughout the application and approval process, making it more convenient and stress-free.
Call us today to make homeownership achievable and affordable for you!
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