The 30-year fixed is one of the most popular loans. Many people like the fixed interest rate and lower monthly payments. A fixed-rate mortgage will give you the security of knowing that your monthly principal and interest (P&I) payments won't change, no matter how interest rates fluctuate in financial markets.
Why choose a 30 Year Fixed Rate Mortgage?
You want a stable monthly payment for the life of the loan
You believe interest rates could rise in the next few years