Definition

• Fixed-rate loan with stable payments over 30 years.

Ideal Borrowers

• Long-term Homeowners looking for stability

Down Payment

• Typically none required for refinancing.

Benefits

• Long-term interest rate and monthly payment stability

Usage Limit

• No restrictions.

Strengths

• Ideal for long-term stability and budgeting.

Considerations

• Longer term means higher overall interest paid.