How Simple Is It to Get a 30-Year Fixed Mortgage? Find Out How to Own Your Own Home Now

Are you thinking about buying a home or shopping already? A 30-year fixed mortgage can help you buy the home you want. With a 30-year fixed-rate mortgage you’ll have monthly payments you can afford. The payments will stay the same throughout the course of your mortgage.

How Can it Be Easy to Get a 30-Year Fixed Mortgage?

If it was so easy to get a mortgage, why hasn’t everyone done it? First, not everyone wants to own their own home. Second, a lot of people have out-of-date ideas about what they need to do in order to qualify for a 30-year home loan.

Years ago, people had to give a lot of information to a mortgage loan officer who worked at a bank. The process moved slowly. You’d frequently get a call that you had to provide more documentation of your income or other factors influencing your loan.

Today the process can be a lot faster and easier. An experienced mortgage loan broker can help guide you through the process. Fannie Mae, the Federal National Mortgage Association, provides the Day 1 Certainty™ program. Day 1 Certainty™ uses technology to get your financial information online. You could get your loan pre-approved as quickly as the same day. If you need to submit additional information to qualify, you’ll receive that information as quickly as possible.

Do We Have to Put 20% Down On a Home to Get a 30-Year Mortgage?

You don’t need to save a 20% down payment to buy a home. You have many options for lower down payments. You can even find some 30-year fixed mortgages with zero down payments. USDA and VA loans can have zero down payments. FHA loan down payments ranges from 3.5% to 10%. You may also be able to qualify for conventional mortgage programs with 3% down, and you may also be able to receive gift funds to make your down payment.

Don’t be intimidated by the home buying and mortgage process. Not only can it be easier than you think, but you could also be surprised at the mortgage you could qualify for. This is the biggest reason to work with an experienced home mortgage professional. They can guide you through the process and show you how to get the mortgage you need.