30 Year Loan30 Year Fixed Rate Loan Program

The 30 year fixed rate mortgage is one of the most desirable loan programs available. Borrowers like the low monthly payments and the stability of the 30 year fixed rate over a variable rate. The term of a 30 year fixed rate mortgage is long and consequently you pay more interest over the life of the loan. However, the 30 year fixed rate mortgage is recommended for borrowers who intend to stay in their house for a long period of time. It is indeed the most common and easiest fixed-rate loan to qualify for.


  • Low monthly payments.
  • Can be refinanced if the interest rates drop.
  • Monthly payments and interest rate are fixed for 30 years and can't increase.


  • Higher interest rates than shorter term mortgages.
  • Mortgage payments do not drop if interest rates drop.