Making the choice to buy a new home is a big decision, especially if you plan to stay in it for many years. When it’s time to select a mortgage, homebuyers need to know they are choosing the best possible option for their financial goals. A fixed-rate mortgage can be beneficial for those buying or refinancing a home they plan to stay in long-term.
Is a fixed-rate loan right for you?
A fixed-rate loan is one that does not change interest rates over the course of the mortgage. Because of this, the monthly payment will be the same from the beginning to the end of the loan, regardless of how the market changes. This will help you secure your monthly finances and long-term budgets.
Lenox/WesLend Financial currently offers five different fixed-rate options, but two stand out as the most popular for first-time homebuyers and seasoned homeowners alike: the 15 year and 30 year fixed-rate plans.
15 year fixed-rate mortgage: gives our borrowers the benefit of paying less in overall interest in the long run. It is also paid off in half the time of the 30 year mortgage. In the end, the homeowner will pay less money because of the low interest rate and shorter loan term.
30 year fixed-rate mortgage: mortgage is spread out over a longer period of time, so the monthly payment is more affordable. Though you pay a little more in the long run than a shorter-term fixed loan, having a predictable monthly payment will help you budget finances more easily.
Our fixed-rate mortgage plans allow customers to:
- Put 5 percent down on a primary residence, or as little as 3 percent down for first-time homebuyers
- Refinance up to 95 percent of their home loan
- Refinance up to 97 percent of a FNMA-owned refinance
Why choose Lenox/WesLend as your lender?
On average, it takes us just over 30 days to close a loan. The mortgage advisors at Lenox/WesLend are experienced and knowledgeable in finding the right mortgage solution that suits your needs. They will help you find the loan options and payment that matches your lifestyle and homeownership goals, while keeping you informed every step of the way.
Know where you stand
By choosing a fixed-rate mortgage, you can confidently plan your finances without worrying about fluctuating rates. With this in mind, let Lenox/WesLend Financial help achieve your homeownership goals.
Apply today to lock in your interest rate while they are still low!
You have many options for fixed-rate mortgages:
- 30 Year Fixed
- 25 Year Fixed
- 20 Year Fixed
- 15 Year Fixed
- 10 Year Fixed
Other mortgage programs you may be interested in…
* No closing costs options are NOT available in Washington.