Fixed Rate Purchase Mortgages

No matter what type of mortgage you need, B2 Funding is here to help. From determining what loan is best to guiding you through the entire home loan process, you can count on us for home loans made easy.

The fixed-rate mortgage is the most common mortgage program in the industry.  It is the easiest to understand and provides the security and peace of mind of a set monthly payment (principal and interest) that will remain the same throughout the term of the loan.

Fixed Rate Loan Features

Rate / Interest Will Not Change
Payment Will Not Change
Easier To Budget Your Payments
No Prepayment Penalties

I ended up working with B2 Funding after the company I was working with had dragged their feet for two months and with only a few days before closing we still didn't have any commitment in place. I decided to contact several companies that I found on Bankrate.com as an insurance policy since it seemed the first lender that was based out of Austin didn't know what he was doing. I worked with Alan Basov who was FANTASTIC!!! He took my application and called back within minutes, we had accomplished in one day what took the Austin broker weeks to accomplish. I was approved the same day and we had our appraisal back within 48 hours. After 4 days our loan was ready to close and B2 Funding notified the title company. The following week we closed on our purchase after only 8 days from my initial contact with Alan. It was too good to be true at first but they delivered on what they promised and far over exceeding my expectations. My Realtor mentioned that it was the most impressive mortgage transaction she has seen in years and will also refer her clients to B2 Funding. Both Alan and his assistant Anna were proactive with phone calls and emails, picked up my calls and answered my questions every single time. Not to mention that we received a rate and closing costs that was much lower than what other companies had offered us. A few days after closing I received a call from the Austin based broker asking me for more paperwork LOL. I'm glad that I found B2 Funding and gave them a shot. TOP NOTCH and very ethical!!!!

30-Year Fixed Rate Loans

Advantages:

  • Offers the chance to borrow money on a long-term basis without having to worry about the interest rates or payments changing.
  • Monthly payments are lower than those on 15-year loans because the interest is amortized over a longer period.
  • Lower monthly payments free up money that borrowers can pour into investments that yield more than their homes.
  • Higher interest bill increases the amount consumers can deduct at tax time, potentially reducing or eliminating their federal income tax liabilities.

Disadvantages:

  • Borrowers build equity at a very slow pace because payments during the first several years go largely toward interest rather than principal.
  • The overall interest bill is much higher because of the long amortization term.
  • The interest rates are higher than on 15-year loans.

15-Year Fixed Rate Loans

Advantages:

  • Borrowers build equity much more quickly due to shorter amortization schedules.
  • Overall interest bills are dramatically lower than those on longer-term loans.
  • Interest rates are lower than 30-year loans.

Disadvantages:

  • Monthly payments can be significantly higher than those on 30-year loans.
  • Restricts home-buyers to smaller houses than they might be able to afford with longer-term loans.