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Overview:
This is the undisputed champion of mortgages. Your monthly payment
is calculated based on the initial interest rate, and never changes over the 30 year life
of the loan. The 30 Year Fixed Rate Mortgage is considered the most conservative because
there is no risk that changing market conditions will effect your monthly payment.
Is It For You?
This loan is probably right for you if you don't plan to move or refinance for at
least 7 to10 years and you expect interest rates to increase over this period, or you just
feel uncomfortable making an interest-rate bet at this time. This loan may also be right
for you if you are on a fixed income or don't expect your income to increase significantly
over the next several years. After 5 years you will have paid off approximately 6%
of the principal balance. |
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Other Programs
Main Program Page
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
1 Year ARM
3/1 ARM
5/1 ARM
FHA
VA
Construction - Permanent
Lot Loans
97% Homebuyer's Helper
100% Homebuyer's Helper
NINA
5 Year Balloon
7 Year Balloon
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