Fixed Rate Loan — 30-Year Term

A 30-year fixed rate mortgage is a loan that has an interest rate that stays the same for the 30-year term of the loan.

Advantages:

• You want the stability of a fixed monthly payment for the life of the loan.
• You plan to stay in the home long-term.
• Excellent fixed rate.
• No risk that changing market conditions will increase your monthly payments.
• Level principal and interest payments for the life of the loan.
• Lower monthly payment than shorter term loan.

Disadvantages:

• You pay more in interest charges over the life of the loan than a 15- or 20-year term loan.

More Convenience

Since MCU retains the servicing of your loan, it's easy to make your loan payment and check your balance. Using MCU@Home, you can make your payments and check your balance 24/7 or, if you prefer, your payment can be automatically deducted from any share account — whether it's at MCU or at another financial institution in the United States.