With the 30-year fixed-rate mortgage, the interest rate remains the same from day one, meaning borrowers can depend on the same bill amount from month to month and year to year. For the 30-year term, borrowers pay down the principal, or actual loan amount, along with unchanging interest amount on the mortgage. Homeowners gradually increase equity in the home over time. A 30-year fixed-rate mortgage is often perfect for budgeting homeowners who wish to stay in the same house for a long time, but does have the drawback of paying more interest over the length of the loan compared with shorter-term loans.
Largest Cities in Indiana:
Anderson
Bloomington
Brownsburg
Carmel
Clarksville
Columbus
Crown Point
East Chicago
Elkhart
Evansville
Fishers
Fort Wayne
Franklin
Gary
Goshen
Granger
Greenfield
Greenwood
Griffith
Hammond
Highland
Hobart
Huntington
Indianapolis
Jeffersonville
Kokomo
La Porte
Lafayette
Lawrence
Logansport
Marion
Merrillville
Michigan City
Mishawaka
Muncie
Munster
New Albany
New Castle
Noblesville
Plainfield
Portage
Richmond
Schererville
Seymour
Shelbyville
South Bend
Terre Haute
Valparaiso
Vincennes
West Lafayette
Disclaimer
Fixed Rate Mortgage/Adjustable Rate Mortgage Conforming
Rates and fees are quoted on a $200,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio.
Rates are subject to change without notice.
Fixed Rate Mortgage/Adjustable Rate Mortgage Jumbo
Rates and fees are quoted on a $450,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio.
Rates are subject to change without notice.
“Are you searching for a loan amount of more than $417,000?
Please be aware that recent legislation allows lenders to offer conforming loan rates at a higher loan amount limit based on the county the property is located. For details about the new conforming loan limits, click here.