With a fixed-rate
mortgage, your monthly payments remain the same throughout the life
of the loan.
You might consider a fixed-rate mortgage if you:
- Prefer a regular
- Are on a limited
or fixed income.
- Want the security
of knowing that your payments will remain the same even if interest
- there are several different types to choose from. They include:
30-Year Fixed-Rate Mortgages
Of all fixed-rate mortgages, the 30-year option offers the
lowest monthly payments. That's because the loan matures over a longer
period of time. If you think interest rates are likely to rise over
the long term, this is a good option. Also, the low payments could help
you qualify for a more expensive home.
15-Year Fixed-Rate Mortgage
With a 15-year option, you own your home in half the
time by paying more each month. In return for higher monthly payments,
you acquire equity faster and end up paying substantially less interest
over the life of the loan.
For first time buyers there are several affordable mortgage
programs with down payments as low as 3%, and flexible qualifying guidelines.
Fill out our on-line loan form for more
Find out more about "Adjustable
Rate Mortgages" and compare loan options and benefits!
Use our quote
form, a mortgage feature on California Mortgage & Home Equity
Loans, Co. to locate a lender in your area offering the mortgage
product that best suits your needs. The independent lender you select
will work with you to help find a low-cost mortgage that meets your
needs. Apply today!