30-Year Fixed Home Loan

A 30 year fixed rate home loan is our most sought out option. With this amazing home buying option, a buyer is able to maintain the same low comparable interest rate as well as the same monthly principal and interest payment over a 30 year period. This keeps your rate secure and generally offers low down payment options.

For those seeking a low monthly payment and a predictable payment, this could be the option for you. This option is also great for those who have found their “forever” home due to the extended length of this loan or plan on being there for 10 years or more. This allows homeowners plenty of time to build up a decent amount of equity.

There are many benefits to having a 30 year fixed home loan option when it comes to your next purchase. Some of the amazing benefits include:

Lower monthly payments. (This is beneficial for those who are seeking an affordable house note.)
Larger Loan Options. (Since you have an extended period of time to pay, you can often apply for a larger amount.)
Consistency and Predictability. (Knowing what you will pay with a fixed rate can give you peace of mind. Your rates will never go up.)
Flexibility. (Even with a consistent monthly bill due, you can always increase your payment at any time to pay your home loan off sooner without any early payment penalties.)
Mortgage Insurance (With a down payment of 20% or more, you may be able to avoid these costs)

With mortgage interest rates continuing to fluctuate in our ever-changing economic situation, most home buyers find it greatly beneficial to have a locked-in rate without paying an exorbitant amount on their monthly note. Having this option for some means their financial future is easier to predict and schedule despite any economic risks or changes for the next 30 years.

Although there are a lot of benefits to this choice, there are a few possible drawbacks as well. For example, a low monthly payment can mean higher payments in interest overall compared to a 15 year fixed loan. This can however be overcome if you choose to pay the loan off sooner rather than continuing until the full term.

Another possible disadvantage is the risk of a higher interest rate compared to some of the other home buying options. This is due to the fact that you are borrowing for an extended period compared to a 20 or 15 year loan. However, your rate will never go up, so you can rest assured that your incredible rate is locked in no matter what.

How is your interest rate determined? Besides the current economic factors to consider, there are several other important factors that affect your interest rate:

Your credit score (Better rates tend to come with better credit scores)
The total amount of the loan being borrowed
Length of time the loan is required to be paid off
Perceived risk
Amount of down payment

Now that you know the benefits and possible disadvantages of the 30 year fixed rate home loan buying option, you can get everything you need to proceed to the next step. Call Firehouse Mortgage today, to see if this is the right home loan for you today!

CONVENTIONAL LOANS

Terms of 15 or 30, or any year in between
Down payment as low as 3% for First Time Home Buyers
No Mortgage Insurance with 20% or more down payment
Cash out refinance options available

Apply Directly With Firehouse Mortgage Here

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FIREHOUSE MORTGAGE

Firehouse Mortgage offers professional mortgage brokering services to homebuyers in Houston Texas. We strive to attain the highest level of customer service satisfaction and trust.

Conventional Loans

Terms of 15 or 30, or any year in between
Down payment as low as 3% for First Time Home Buyers
No Mortgage Insurance with 20% or more down payment
Cash out refinance options available

FHA Loans

Terms of 15 or 30 years
Down payment as low as 3.5%
Credit score as low as 580
Allows more people the opportunity for homeownership

USDA Loans

0% down payment
Rural counties qualify

VA Loans

Terms of 15 or 30 years
0% down payment
Loan amounts up to $2 million
For active duty, reservists or retired Military

Down Payment Assistance

City of Houston Assistance

Harris County Assistance

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Let Us Help You Apply With Firehouse Today

Buying your first home? make it your dream home. We’ll work with your budget. From our community to yours, our service to the public has been our commitment. Our integrity, customer service, and professionalism has served our country, our family-values have served our community, let our commitment serve you.

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We’d Love to Hear From You

Call us today for a hassle-free consultation. We can help you find the perfect home for you and your family. Let Firehouse Mortgage handle the stress of getting your dream home, so you can enjoy it the way you deserve.

Phone

Voice: 281.668.9622
Fax: 832.201.7077

Address

7702 FM 1960 Road E. Suite 300,
Humble, Tx. 77346

Email

info@firehousemortgage.net

Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the texas department of savings and mortgage lending, 2601 north lamar, suite 201, austin, texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.Sml.Texas.Gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.Sml.Texas.Gov.