Are you purchasing your dream home for the long haul? If so, you may want to consider a 30-year fixed-rate mortgage. Historically, the 30-year fixed loan is the mortgage industry's most popular type of loan; if your parents or your grandparents had a loan, chances are, it was a 30-year fixed loan. So what is a 30-year fixed loan? It's a loan that has a repayment term of 30 years and your payments will spread out equally over three decades and at an interest rate that is locked in when the loan is finalized. The benefits of a 30 year mortgage make it one of the most popular loans for a number of reasons. One of the benefits of this loan option is that there are no surprises. Since the rate is "fixed" payments over the life of the loan will always be the same, which makes things easier for managing your budget and finances. Although the 30 year fixed loan is the most popular it may not be the best financial option for you. There are more mortgage options today than ever before. American Financing's salaried-based mortgage consultants will help you to determine which home loan fits with your financial situation.