The most common fixed rate home loans range from 10 – 30 years. Affordable Interest Mortgage has been helping buyers in Colorado decide which loan period is right for them for years. We know the ins and outs of what 10 – 30 year fixed rate home loans entail. So, don’t hesitate to reach out to us for more information. We will make sure everything is laid out in layman’s terms.
Colorado ’s Source for 10-Year Fixed Rate Home Loan
The most obvious benefit of a 10-year home loan is you pay less interest than a 15 or 30 fixed rate home loan. The catch is that your monthly payments will be higher than a loan with a longer pay-off period. Affordable Interested Mortgage is here to help Coloradans look at their finances and make the best decision possible for their unique situation. For those who can afford a higher mortgage each month, or are looking to pay off their home sooner rather than later, a 10-year fixed rate home loan is the ideal option.
Secure a 15-Year Fixed Rate Home Loan
15-year home loans are the middle ground option. Affordable Interest Mortgage has been handling these types of loans day in and day out for a while, so if you have any questions feel free to ask. A 15-year fixed rate loan means your monthly payments will be less than a 10-year loan, but more than a 30-year loan. However, you will save on 15 years’ worth of interest — which can certainly add up! For more about this loan option, sit down with one of our loan experts.
30-Year Fixed Rate Home Loans — A Standard for Colorado Home Buyers
30-year fixed rate home loans are the most common loan period because they offer the most affordable fixed monthly payments. The trade off is that you will pay more in total interest over the 30 years. The bright side is that you can pay off your loan early without any penalties — meaning, you can start with a 30-year fixed rate home loan, but pay it off in 10 years, and save on 20 years worth of monthly compounded interest. AIM is here to help you make the right financial decision with our wealth of experience and knowledge.