Conventional fixed-rate loans have many advantages. Monthly payments stay the same over the life of the loan, for example, because the interest rate on the loan does not change.
The fact that you can count on how much your mortgage payment is going to be every month (ignoring, of course, possible changes in annual property taxes) can help you feel more secure about your future. And this sense of security can assist in your financial planning for you and your family.
But should you get a 30-year fixed, or 15-year? How big of a mortgage should you take? There are certain things you need to consider with these loans.
This is why it is so important to talk to the experts at the O’Donnell Financial Group, who can help you make the right choice.