One (1) Major Reason to get a 30 year Fixed Rate Mortage (and that's all you need)

30 Year Cost Comparisons.Croppedjpg


Everyone looking to buy a home in today’s marketplace is struggling with deciding what kind of loan to get. Should they go “really low” and get an adjustable rate mortgage for 5, 7 or 10 years?

… Or should they go with the tried and true 30 (or 20) year fixed rate mortgage??  With today’s record setting low rates I don’t believe there is any doubt a 20 or 30 year fixed rate mortgage makes the most sense for almost everyone in today’s market.

Here is the most important reason why – and almost the only reason why:

1.  Check out this Cost Comparison Chart and become a BELIEVER

Here are the Cost Comparison’s for the major indexes in the United States.  ONLY the monthly fixed rate mortgage ends up having a 0% of change on the Price Index.  We all know our food, gasoline, medical care and tuition have all gone crazy since 1981 – it is only the monthly mortgage payment on a median priced home (which at that time was at 14% – and was not refinanced with any cash out) that did not skyrocket…it didn’t even go up!

Words of advice:

1.  Find a good lender (we’ll send you a list if you like).  With rates as low as they are today you can shop closing costs and rates.

2.  Find a good REALTOR (that would be us) who can lead you through the process.

3.  Rest easy with the knowledge that today’s marketplace offers great value and if you go with a fixed rate loan – future stability

4.  Don’t refinance for cash out during the time of your loan (you probably won’t have to since the rates today are so low.

PatsPlace Grand Rapids Real Estate