30 Year Fixed Rate Mortgage
With a 30 year fixed rate mortgage, your interest rate does not change, your payment does not change, and you pay the loan off in 30 years. This is the most popular mortgage when interest rates are low.
Current rate on 30 year fixed rate mortgage can be found in the rate box on the right >>.
Are you curious as to what your 30 year fixed rate mortgage and closing costs might be if you were to refinance or purchase a new home right now? You can run your numbers and get instant on-line estimates here: www.top-lenders.com. No contact information is required.
30 Year Mortgage Advantages
Monthly payments are lower than with 15 year fixed rate mortgage.
Interest rate does not go up even if rates go up.
Payments stay the same for 30 years.
30 Year Mortgage Disadvantages
Higher interest rate than a 15 year fixed rate mortgage.
Interest rate stays the same if interest rates go down.
Higher mortgage payment comparing with ARM loans originated same time.
Read more about 30 year mortgages >>
Read more about FHA mortgages >>
Read more about ARM mortgages >>