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30-Year Fixed

Best: During times when interest rates are low, and you’ll be staying in your home for years.

30 year fixed loan

30-Year Fixed Mortgage

When you can get a lower interest rate, you want to lock it in for the life of the loan, don’t you? Well, that’s what a 30-year fixed mortgage does. It locks your rate for 30 years.

Even if you’re not going to have your home or that particular home loan for 30-years — many borrowers get this loan. That’s because even if the future is unpredictable, your loan isn’t.

This type of mortgage loan gives you peace of mind that your payment will remain the same (unless your taxes or insurance change).

Are 30-year fixed mortgages popular?

Yes, borrowers love the 30-year fixed because it gives them predictability in their monthly budget.

Advantages of a 30-Year Fixed Mortgage

  • Lower payments – with the longer term, your payments will be lower than a 15-year mortgage.
  • Flexibility – you can pay extra on your principal if you want, but you can always pay the minimum payment if your budget is tight.
  • Budgeting – with a fixed-mortgage payment, you’ll have more control and prediction over your budget.
  • Easier qualifying – with lower payments, it’s possible to qualify for a larger loan amount so you can get the home you want.
  • More breathing room – with a lower house payment, you’ll have money for other things like private schools, travel, or investing.

When is a 30-year fixed a good idea?

When rates are low, these loans are outstanding.

When is a 30-year fixed a bad idea?

On the flip side, when rates are high — you might want to get a lower adjustable rate, especially if you’re not staying in the home for 30-years.

Why Homestead?

Homestead is a top lender of 30-year fixed-rate mortgage loans for purchasing and refinancing. Our rates are some of the lowest in the states we serve. Our loan advisors provide excellent service, as you can tell from our reviews. Plus, we close fast!

What they say about us.

Couple looking into adjustable rate mortgage loan by Homestead Financial

Jeremy S. says…

Joanne did SUCH a great job with providing us our home mortgage. She was prompt, helpful, and very knowledgeable. She would often check up on me to make sure I was doing okay with various aspects of my home purchase. She helped a ton. I’d recommend Joanne and Homestead to anyone!

Kelley J. says…

"They were always available and had everything ready well before the closing date. It was a pleasure doing business with them."

John and Mary K. say…

"Communication was clear and easy; our loan officers were friendly, accessible and helpful; reviewing and signing documents couldn’t have been easier! Thank you!! We love our new home!"

JSchumacher says…

Brad and his team are top notch. They have your best interest in mind. They answer all your question and make the process very streamlined and easy. He is your hometown guy.

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