The Advantages and Disadvantages of a 30 Year Fixed Rate Loan


  • Offers the chance to borrow money on a long-term basis without having to worry about the interest rates or payments changing.
  • Monthly payments are lower than those on 15-year loans because the interest is amortized over a longer period.
  • Lower monthly payments free up money which borrowers can use for something other.
  • Higher interest paid increases the amount consumers can possibly deduct at tax time.


  • Borrowers build equity at a slower pace because payments during the first several years go largely toward interest rather than principal.
  • The overall interest bill is much higher because of the long amortization term.
  • The interest rates are higher than on 15-year loans.

For complete mortgage loan program details and to find out if you qualify, contact us today at 888-488-3807 or go to


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