• Omega Financial Mortgage

The Tried-and True 30-Year Fixed-Rate


Although most lenders offer a wide variety of loans, the 30-year fixed has become the industry standard—and for good reason. Here’s why:


Lower monthly payments. With a 30-year fixed-rate mortgage, principal and interest is spread over a long period of time which equates to lower monthly payments. For those homeowners who would rather have more cash on hand each month—whether to spend or to save—a 30-year fixed can be a great match. Although the interest rate on a 30-year fixed-rate mortgage may be higher than that of a mortgage that has a shorter term, the trade-off of having lower payments is often well worth it.


Set it and forget it. Unlike an adjustable-rate mortgage—in which the interest rate can fluctuate—a 30-year fixed-rate mortgage has an interest rate that won’t ever change. Set monthly payments can allow a borrower to budget their finances easier on a regular basis. Also, a 30-year fixed can offer great peace of mind because a borrower will not have to worry about whether the interest rate will go up or down. Although taxes and insurance premiums may cause monthly payments to change over the life of the loan, those changes are usually minor.


Great flexibility. Are you looking to “buy up” to a larger or more expensive home? The lower monthly payments associated with a 30-year fixed-rate mortgage may mean that you can qualify for a larger mortgage. Are you a first-time homebuyer? A 30-year fixed is often a great choice for younger buyers as they may not have as much income on a month-to-month basis. Do you want to pay off your mortgage quicker? With a 30-year fixed, the lower payments give you more flexibility in terms of adding to your monthly payment or making extra payments.


Although a 30-year fixed-rate mortgage isn’t the right loan for every situation, it does make sense for a lot of borrowers. For more information, talk to your mortgage professional.



For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988.

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Licensed by the Commissioner of Banks - License No. MB2671