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Predictable Monthly Payments

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If you're looking for the security of knowing that your monthly principal and interest (P&I) payments will never change, consider refinancing with a fixed-rate mortgage.

Loan ProgramFeaturesBest For


Fixed-Rate Mortgage	Monthly principal and interest (P&I) payments that stay fixed for the entire life of the loan Protection from rising interest rates	Borrowers who prefer regular payments with no surprises Homeowners with limited or fixed incomes People who plan to stay in their homes a long time People who are refinancing a home at a time when interest rates are comparatively low
40/30 Fixed-Rate Balloon Mortgage	Fixed rate for 30 years, followed by a single "balloon" payment of the entire remaining balance¹ Lower monthly payments than with a 30-year fixed-rate mortgage² More borrowing power due to lower monthly payments and a longer loan term	Borrowers who prefer regular payments with no surprises People who plan to stay in their homes a long time Homeowners who are concerned that their debt could keep them from qualifying

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¹ The interest rate on a 40-year loan may be higher than that of a 30-year loan, causing significantly more in interest payments.
² If only scheduled payments are made for the entire loan term, the balloon payment could be as much as 50% of your original purchase balance.

Posted by John Cashion on 05/12/2008 08:32 PM

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John Cashion

Dover, DE

More about me…

Wells Fargo Home Mortgage

Address: 250 Beiser Boulevard Suite 201, Dover, De, 19904

Office Phone: (302) 672-1214

Cell Phone: (302) 242-1975

Email Me

Bond prices climbed for the fifth straight session Thursday, helped by a government auction of 30-year bonds. The dollar fell against the euro and gained versus the yen. That should keep mortgage rates on the way down. Ny tuesday of next week should be prime for locking conforming loans.

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