A fixed-rate mortgage is the most basic kind of mortgage. If you decide to obtain this mortgage, you will be paying at a fixed-rate for an established period of time. Fixed-rate mortgages are an excellent option for families that are planning on living in their home for many years. These mortgages usually last 15 or 30 years. Depending on the area, some mortgages can be 40 or 50 years. However, the longer term of the mortgage, the more interest you will need to pay for your mortgage. Someone who chooses a fixed-rate mortgage does not have to worry about fluctuations in interest rates over time.
Southern California is a highly desirable place to live, which causes the area’s home values to be fairly high. Our fixed-rate mortgages allow average families to own their homes. Owning your own home can be very satisfying, because it is a place where your family can truly enjoy life together.
Take a look at our mortgage calculator and give Reverse Mortgages of Southern California a call. We will discuss any of your questions and talk to you about your best options. Our experts will work with you and take a look at your financial situation and help you decide what kind of fixed-rate mortgage will work best for your family!