Thirty years can sound like a lifetime when you're talking with your lender about getting a 30–year fixed–rate mortgage. There are so many uncertainties in life and who knows where you'll be in 30 years. Will you switch careers? Will you move cities? Will you have children?
It may be a long period of time with many unknowns, but a 30–year mortgage provides you with many certainties:
Your monthly mortgage payment and interest rate will remain the same as the day you locked in your loan -- guaranteed.
With all the benefits that come with a 30–year fixed–rate mortgage, there are important considerations to keep in mind.
To ensure that you obtain the mortgage that's right for you, it's important that you talk with your lender. Also, be sure to visit My Home by Freddie Mac® to learn more about homeownership and the homebuying process, from A to Z.
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