Great
40 Year Mortgage Rates
AAXA is pleased to offer 40 year fixed mortgage programs
to our clients. 40 year mortgage rates tend to be
slightly higher than that of a 30 year fixed, but
the monthly payment could be lower due to the extended
term of the loan. This program is a good alternative
to borrowers who do not feel comfortable in an adjustable
rate mortgage but want or need the low monthly payment
that this program offers. Customers who pursue a 40
year mortgage are usually looking for one of two things
- either they are searching for a lower payment so
they can afford a more expensive house, or they simply
want a lower payment without the instability of an
ARM product. Contact AAXA today to see if a 40 year
home loan is the right choice for you and your family.
Research 40 year mortgage rates (options):
1. Call 877-728-3569 for a free quote.
2. Complete the AAXA Rate Quote Form on this
page.
3. Fill out a no obligation mortgage
application.
Comparison of a 40 year mortgage, 30 year mortgage,
& 5/1 ARM (example)
40 Year Fixed Rate Mortgage Rate Program
$200,000 Loan Amount
6.125% Note Rate
$1,118.61 Monthly Principal & Interest Payment
Interest Paid Over Life of Loan: $336,930.61
30 Year Fixed
$200,000 Loan Amount
6.000% Note Rate
$1,199.10 Monthly Principal & Interest Payment
Interest Paid Over Life of Loan: $231,676.38
5/1 ARM
$200,000 Loan Amount
5.750% Note Rate
$1,167.15 Monthly Principal & Interest Payment
(first 5 years – then adjusts)
Interest Paid Over Life of Loan: Will vary with fluctuation
in rate.
As you can see, you will likely drive down your monthly
payment with the 40 year mortgage but the amount of
interest paid over the life of the loan could be significantly
higher. The big questions that you need to ask yourself
are: ''what are you hoping to accomplish with your
home investment and how will your loan program compliment
those objectives''. That is where AAXA comes in. Our
loan advisors will take the time to listen to your
goals and help you form a roadmap to get you where
you want to be. Give us a call at 877-RATE-LOW
(877-728-3569) or apply using our online
mortgage application. When it comes to finding
great 40 year mortgage rates, look no further than
AAXA Discount Mortgage.
Benefits of a 40 Year Mortgage
- Potential for lower monthly payments than with a 30 year fixed.
- Security of fixed rate product.
- May help borrower afford more expensive home.
- Fixed monthly payments may simplify budgeting process.
Other fixed rate products:
10
Year Fixed Mortgage Rate
15
Year Mortgage Programs
20
Year Fixed Mortgage Rate
30
Year Mortgage Rates
