| 30 Year Fixed |
| Flexible down payment options, including as low as 3% for first-time buyers.
Fixed rate of interest.
Level principal and interest payments for the full term of the loan.
No risk that changing market conditions will increase your monthly payments. |
| You plan on staying in the home long-term.
You think interest rates will increase.
You don't expect your income to increase significantly over the coming years. |
| You end up paying more in interest charges over the life of the loan.
Benefits of the fixed rate are not realized until after the 10th year. |