30-Year Loan

America’s Most Popular Loan Option

BUY A HOME

30-Year Loan

America’s Most Popular Loan Option

BUY A HOME

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30-Year Mortgage: The Consistent Favorite

While several loan programs and terms exist, the most selected option is the 30-Year Fixed-Rate mortgage. Freddie Mac estimates that between 85-90% of Americans have chosen this method of home financing, largely due to more affordable monthly payments and the likelihood of higher purchasing power compared to shorter term products.

Considering A 30-Year Option?

When choosing mortgage programs, it’s important to select the option that best helps accomplish both short and longer-term financial goals.

Yes, most loan options allow you to make additional payments toward your principal as cash flow allows.

While it’s fairly rare to encounter a prepayment penalty, be sure to consult with your mortgage professional if you have any questions.

Find Out Which Loan Term Is Right For You

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30-Year Fixed Rate Mortgage

An often-overlooked advantage of the 30-Year mortgage is purchase power. While all scenarios are unique, the term length may make it more feasible to buy a more expensive home as the payment period is longer.

30-Year Loan

30-Year Fixed Mortgage Rate

An often-overlooked advantage of the 30-Year mortgage is purchase power. While all scenarios are unique, the term length may make it more feasible to buy a more expensive home as the payment period is longer.

Interest

While 30-Year mortgages may be associated with a higher interest rate than a shorter-term option, there are many variables including credit score and debt ratios used to determine a specific borrower’s rate. The lower monthly payment and increased cash flow associated with longer term loans are also important considerations.

30-Year Loan-balance

Interest

While 30-Year mortgages may be associated with a higher interest rate than shorter-term options, there are many variables including credit score and debt-to-income ratios used to determine a specific borrower’s rate. The lower monthly payment and increased cash flow associated with longer term loans are also important considerations.

Benefits

A 30-Year Fixed-Rate mortgage is a great option in many cases, for first-time and experienced buyers alike. Payments are manageable and typically allow more favorable cash flow than shorter term options.

30-Year Loan-woman making calculations

Benefits

A 30-Year Fixed-Rate mortgage is a great option in many cases, for first-time and experienced buyers alike. Payments are manageable and typically allow more favorable cash flow than shorter term options.

HAVE A FEW MORE QUESTIONS?

Our Loan Experts Can Help

This answer depends on several factors, including current interest rate and loan term, and each option carries pros and cons. Your experienced mortgage professional can help you evaluate options and make the best decision for your needs.

Buying A Home
Let’s Refinance
Mortgage Loan Officer

Contact an Expert Today!

Call Now
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I agree to be contacted by Spire Financial

HAVE A FEW MORE QUESTIONS?

Our Loan Experts Can Help

This answer depends on several factors, including current interest rate and loan term, and each option carries pros and cons. Your experienced mortgage professional can help you evaluate options and make the best decision for your needs.

Buying A Home
Let’s Refinance

TALK TO OUR TEAM TODAY

Mortgage Loan Officer

Contact an Expert Today!

Call Now
General Form

I agree to be contacted by Spire Financial