Refinance Your Home: A Comprehensive Guide
Reading Time: 3 minutesRefinancing your home can be a game-changer for your financial strategy, whether you want to lower your monthly payments, access
Enjoy lower monthly payments and a fixed interest rate—perfect for both buying and refinancing. With predictable payments over 30 years, this loan offers financial stability and flexibility, making homeownership more affordable and stress-free.
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A longer loan period means you pay less each month.
Your interest rate stays the same for the life of the loan.
Buy your new home with as little as 3% down.
Looking to pay off your mortgage early? No worries—there are no prepayment penalties.
If your details are close to these guidelines, we encourage you to apply or talk to us. Even if a 30-Year Fixed Loan isn’t the right fit, we may have other options that work for you.
Whether you're buying a new home or refinancing your current mortgage, we've got you covered.
Your debt-to-income (DTI) ratio needs to be under 50%.
Along with your down payment, you'll need sufficient funds to cover closing costs.
You'll need a credit score above 620.
Estimate your monthly payments quickly and easily. Adjust loan terms, down payments, and interest rates to find the best fit for your budget.
See how refinancing can lower your monthly payment or help you access cash. Compare options and find out how much you could save.
Common Questions About This Loan — Answered for You
The main advantage of a 30-year fixed loan is stability: your interest rate and monthly payments remain the same over the life of the loan, making it easier to budget long-term. Additionally, because the loan term is spread out over 30 years, your monthly payments are lower than with shorter-term loans. The downside is that you’ll pay more interest over the life of the loan than with a shorter term, meaning the overall cost can be higher.
A 30-year fixed loan is ideal for buyers who plan to stay in their home long-term and want predictable monthly payments. It’s also a popular choice for refinancing because it allows you to spread out payments, keeping them manageable while locking in a fixed interest rate. A 30-year fixed loan is best for buyers and refinancers looking for a budget-friendly option with stable costs over time.
A 30-year fixed loan is a mortgage with a 30-year repayment term and a fixed interest rate. From the start, your interest rate remains the same, so your monthly principal and interest payments are steady throughout the loan term. This consistency makes budgeting easy and protects you from potential interest rate hikes in the future.
Absolutely! While a 30-year fixed loan is available with as little as a 3% down payment, you can choose to put more down if you prefer. A larger down payment can lower your monthly payments and reduce the amount of mortgage insurance you need to pay over the life of the loan.
Explore the benefits of 30-year Fixed Loans for home purchases and refinancing, including lower monthly payments and long-term stability. Learn why this loan type remains a popular choice for homeowners.
Reading Time: 3 minutesRefinancing your home can be a game-changer for your financial strategy, whether you want to lower your monthly payments, access
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