A thirty-year fixed-rate mortgage is an alternative home loan with a consistent 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 intend to stay in their house for more than 7 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 30 years results in reduced monthly payments, making it easier for borrowers to qualify.
Hence, obtaining approval for a 30-year fixed mortgage is typically simpler than for a 15-year mortgage.
Borrowers with good credit, stable income, and a low debt loan can easily get a thirty-year fixed-rate home 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 guide you throughout the application and approval process, making it simpler and stress-free.
Contact us today to make homeownership accessible and affordable for you!
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