Low Interest, Fixed Rate Home Mortgage Loans
to all your Missouri home mortgage needs, call us toll free 888-694-0455
or apply online by clicking the link below.
Missouri fixed rate home loan is the most common type of
mortgage program. Your monthly payments for interest and principal
will never change over the term of the loan. Property taxes and
homeowners insurance may increase or decrease, but generally your
monthly payments will remain very stable.
mortgages are available for 30 years, 20 years, 15 years and even
10 years. There are also "bi-weekly" mortgages, which shorten the
loan by calling for half the monthly payment every two weeks. (Since
there are 52 weeks in a year, you make 26 payments, or 13 "months"
worth, every year.)
rate fully amortizing loans have two distinct features. First, the
interest rate remains fixed for the life of the loan. Secondly,
the payments remain level for the life of the loan and are structured
to repay the loan at the end of the loan term. The most common fixed
rate loans are 15 year and 30 year mortgages.
the early amortization period, a large percentage of the monthly
payment is used for paying the interest . As the loan is paid down,
more of the monthly payment is applied to principal . A typical
30 year fixed rate mortgage takes 22.5 years of level payments to
pay half of the original loan amount.
->Back to Conventional