If you’re looking for low monthly payments and a fixed interest rate, a 30-year fixed mortgage might be your best choice.
By choosing a 30-year fixed-rate loan, you’ll have your mortgage paid off in 30 years.
You’ll pay more interest over the life of the loan than a 15-year fixed loan, but your monthly payments will be lower.
Your interest rate will be locked for the life of your loan. This means that your interest and principal payments won’t ever increase or decrease.*
Paying for mortgage insurance is often needed, but this depends on your equity and down payment size.
*The amount you pay for insurance and taxes can still go down or up.
Call us now to get personalized recommendations about a 30-year fixed mortgage, or to discuss different options.
30-year Fixed-Rate Loan:
The following is true given an interest rate of exactly 3.99% (4.263% APR) as the cost of 2.125 point(s), a total of $4,250.00, paid at closing.
On a mortgage of $200,000, you would have to make monthly payments of $953.68*.
*This price does not include insurance premiums or taxes. The total amount would be higher. This payment example assumes a LTV, or loan-to-value, of 74.91%.
PMI, or primary mortgage insurance, is required if you have a down payment of less than 20% on your 15-year fixed-rate mortgage.
You’re also consenting to having Crown Mortgage of the West, our partner companies, and our Family of Companies, reach out to you about your inquiry through a text message or a phone call*.
We’ll call the cellular or residential telephone number you’ve provided with us. We’ll do this even if your telephone number is on a corporate, state, or national Do Not Call Registry. You’re NOT obliged to receive such messages or calls as a condition of saying yes to our services, or the services of our affiliates.
When you’re talking to us over the phone, you’re consenting to the call being monitored and recorded. You’re also agreeing that we can share the personal data and contact information you’ve provided with us. We can share this information with third parties, including our mortgage partners, affiliates, or partner companies. The stated parties are allowed to use your contact information and personal data for analytic and marketing purposes. They may also use the information to improve your experience.
*This includes an automatic telephone dialing system or a prerecorded or artificial voice.