The Fixed Rate Loan remains the most popular loan in America.
Why? Peace of mind. Most borrowers choose to purchase or refinance
their home with a fixed rate loan because of the security a fixed interest rate and
payment will give them.
LoanWorks offers a wide range of fixed rate options.
We offer terms of 10, 15, 20 and 30 years. You can choose among them to find the term
that’s best for you. A shorter term will result in a higher payment, but you’
will save thousands of dollars in interest over the life of the loan.
The table below shows you the interest savings on a $100,000 loan at
8.5% interest:
|
Term
|
Monthly Payment
|
Total Interest Accrued
|
|
40 yr.
|
$733.09
|
$254,498.41
|
|
30 yr.
|
$768.91
|
$176,808.95
|
|
20 yr.
|
$867.83
|
$108,277.58
|
|
15 yr.
|
$984.74
|
$77,253.12
|
By paying $215.83 more a month on a 15-year mortgage, you'd save almost
$100,000 in interest over a 30-year loan - and own the your house in half the time.
What If I Don’t Fit The Box?
While most lenders offer fixed rate mortgages, the criteria they use
for qualifying borrowers are rather strict. If for some reason you don’t "fit
the box", you’re out of luck.
Enter GetYourMortgageHere.com. While our rates for
"conforming" fixed rate loans are always among the lowest in the industry, we
also offer loans for "everyone else". For example,
GetYourMortgageHere.com
offers loans for:
- New Construction
- Foreign Nationals
- Self Employed Individuals
- Borrowers with "Difficult to Document" Income
- Borrowers with "Less Than Perfect Credit"
- First Time Borrowers
- Low Down and No Down Borrowers
- "Combination" Loan Borrowers (1st and 2nd lien Loans)
So if other home lenders have turned you down, you’ve come to the
right place.
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