30-Year Fixed

The 30-year fixed-rate mortgage is a popular home loan option for a reason.

If you want lower monthly payments and the comfort of a fixed interest rate, check out the 30-year fixed.

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30-Year Fixed Requirements

1. Minimum 620 Credit Score

A minimum credit score of 620 for 30-year fixed loans.

2. 3% Down Payment

1. Minimum 620 Credit Score

A 30-year fixed mortgage requires a down payment of at least 3%.

3. 2% – 6% In Closing Costs

4. Debt-To-Income Ratio ≤ 50%

You’ll need 2% – 6% of the total purchase price to cover closing costs.

4. Debt-To-Income Ratio ≤ 50%

You’ll need a debt-to-income ratio (DTI) of no more than 50%.

30-Year Fixed Benefits

Lower Monthly Payments

Your monthly payments will be lower because they’ll be spread out over a longer period.

Fixed Interest Rates

Your interest rate remains fixed for the life of the loan, so you don’t have to worry about rates going up.

Low Down Payment

You can get into a new home with a down payment as low as 3%.

No Prepayment Penalties

Want to pay off your mortgage early? No problem. You won’t get hit with prepayment penalties.

30-Year Fixed Benefits

Lower Monthly Payments

Your monthly payments will be lower because they’ll be spread out over a longer period.

Fixed Interest Rates

Your interest rate remains fixed for the life of the loan, so you don’t have to worry about rates going up.

Low Down Payment

You can get into a new home with a down payment as low as 3%.

No Prepayment Penalties

Want to pay off your mortgage early? No problem. You won’t get hit with prepayment penalties.

Check today's mortgage rates.

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DOVACOR CONSULTING INC

972-836-5727

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