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30-Year Fixed

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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!

Chris J. says…

Brad and his team were great when we refinanced our house in Spring 2021. He was very responsive and proactive throughout the process and helped us great a rate. It was our first time refinancing and everything about the process was made very clear and painless. I would definitely recommend Brad to anyone!

Bradley H. says…

Alicia handled our needs above and beyond our expectations. The entire process, form first contact to our closing. was completed in less than 30 days, thank you, Alicia! I am a business owner and always struggled with Processors understanding the income flow of a business owner, Alicia completely understood and knew exactly how to proceed correctly without delay or frustration. I highly recommend Alicia to anyone going through the purchase of a home.

Michelle says…

Joanne has been (by far) the best financial professional we have ever encountered. She took the time to explain the process for our loan every step of the way. Absolutely outstanding customer services. Thank you Joanne!

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