30-Year Fixed-Rate Mortgage

Yes! You can make a down payment bigger than 3%. The more you put down, the lower your monthly mortgage payment will be. Or you could go with the lowest down payment and use the remaining funds for closing costs. We’ll help you determine which strategy is best for you.

Absolutely. Whether you currently have an adjustable-rate mortgage, a shorter-term loan, or another 30-year mortgage with a higher rate, refinancing into a 30-year fixed can help lower your monthly payment and provide long-term rate stability.

If you get a 30-year fixed-rate mortgage and make all your payments as scheduled, the mortgage will be paid off completely in 30 years. With a fixed-rate loan, your interest rate stays the same for the entire length of the mortgage. There are different types including conventional, FHA, VA, and jumbo — we can help you find what’s best.

Pros include lower monthly payments spread over a longer period, the ability to afford a more expensive home due to a lower DTI ratio, and the option to make extra payments without penalty. Cons include typically higher interest rates than shorter-term loans, paying more in total interest over the life of the loan, and taking longer to build equity.

They’re a great option for a range of home buyers and refinancers, especially those who plan to stay in their home for a while and want lower monthly payments, want flexibility to make extra payments without penalties, or want a fixed interest rate that doesn’t change.