The traditional loan is the 30-year fixed rate mortgage. This is the most popular loan for those buying homes for the first time and even those who own more than one home. The 30-year fixed home loan fits more financial situations than any other home loan. This loan program also allows the home buyer to have low monthly payments without paying large amounts of interest over the life of the loan. The rate is also fixed and will never change during the life of the mortgage. That makes this loan the perfect choice for future homeowners.
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