Reblogged from Majestic Home Loan

Which mortgage option is best for you?

·        Do you plan to stay in your home for many years?

·        Do you prefer a consistent mortgage payment for financial planning needs?

·        Does your peace of mind depend on a payment that never changes?

If you answered “yes” to any of these questions, a 30-year fixed-rate mortgage might be right for you! Since your rate will not change over the life of your loan, your principal and interest payment will never increase.

Fixed-rate mortgages are a good choice if you:

• Think interest rates could rise in the next few years and want to keep the current rate
• Plan to stay in your home for many years
• Prefer the stability of a fixed principal/interest payment to a payment that changes periodically (which is what happens with an ARM, or adjustable rate mortgage)

The 30-year fixed-rate mortgage is one of the most popular mortgage products available today. Many people prefer the fixed interest rate and stable monthly payment over the risks associated with adjustable rate mortgages (ARM).  Please contact one of our mortgage professionals for a no obligation needs analysis today.