The Safest Home Loan in Texas

Texas 30 Year Fixed Mortgage 

A 30 year fixed mortgage is quite possibly one of the safest loans that one can attain for the purchase of a home. The interest rate is locked for the duration of the loan, doing away with any uncertainty associated with the ever changing landscape of the housing market. The loans are amortized meaning that the principal on loan is being paid off throughout the life of the loan. 

Also called conventional loans, fixed rate mortgages may cost the borrower a little more in the long run, as they are not susceptible to the varying rates that adjustable rate mortgages (ARM’s) take advantage of. As the risk associated with a 30 year fixed rate mortgage is substantially higher for the lending company than that associated with ARM’s whose terms are less lengthy. 

What's good about a Conventional Loan?

Since rates are locked, homeowners need not worry about interest rate fluctuations; there are no surprises and none of the increases in mortgage payments for the life of the loan. For this reason, traditional loans are also wildly popular for the purchase of recreational vehicles, trailers, and motor homes. The consistency offered by these conventional loans can even allow one to plan for retirement without having to factor in the uncertainty presented by an adjustable rate mortgage.

A traditional 30-year loan is better fitting for those that have found their dream home, have found the home and community in which they are prepared to live in for the life of the loan. Traditional loans are for those that have found their dream home.

30 year fixed mortgages, though slower to accrue equity, still, pose all of the same benefits of a 15-year mortgage. At the end of the life of the loan, the borrower owns a piece of property from which he or she may take loans out against. Loans that can be used to make home improvements, send children to university, or enable one to make retirement as enjoyable as possible.   

For more information on a 30-year mortgage visit horizonlendingservices.com

Or call us today at  1-972-347-9224