Home Loans Made Easy with Shauna Ratapu - Your Mortgage Person

30-Year Fixed and Equity Explained


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Recently I was asked this question by a prospective new home buyer: "I want to buy a house but the thought of having to stay in it for 30-years scares me!"

To which I replied, "Why do you think you HAVE to stay in a home for 30 years?"

They responded, "Isn't that what a 30-year fixed mortgage means?"

I suddenly remembered thinking this exact thing when my husband and I were looking to buy our first home over 20-years ago. It was my mortgage broker who filled me in - that, no, I was in no obligation to live in a house for 30 years in order to get a 30-year fixed loan.

My goal is to make the home buying process as easy to go through and to understand as possible - so please feel free to ask me questions! There's no such thing as "silly questions" and I take every single one seriously - I bought my first home with literally zero knowledge of how this stuff works because I had no one in my life who understood it.

Because I've gotten these questions from prospective new home buyers recently, in this video I'll explain:

  1. What a 30-year fixed loan means,
  2. What the term "Equity" means, and
  3. I'll briefly discuss some other types of loans: ARM, Balloon Payment, Interest Only
  4. Call or email us today to learn more. ➡️949-723-9572

    Ready to apply? Link in bio.

    Real estate agents - do you need a buyer pre-approved ASAP? We will give you top priority. Let’s chat!

    ➡️ 949-723-9572

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    #DRE 02107604 NMLS 1895610

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    #Firsttimehomebuyer

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    Home Loans Made Easy with Shauna Ratapu - Your Mortgage PersonBy Shauna Ratapu