Fixed Rate Mortgages
Level payments and security in the future.
Locking in interest rates is almost always the best choice when it comes to a mortgage. Choosing a fixed rate mortgage offers the peace of mind knowing that your Principal and Interest payment will not rise in the future.
Fixed rate loan terms are available on all loan types, this includes Conventional, FHA, VA, USDA Rural Development and even Reverse Mortgages.
Although Adjustable Rate Mortgages may offer slightly lower interest rates for a small period of time, the benefits of knowing your payments will NEVER go up with a Fixed Rate Mortgage often outweigh the temptation to choose an Adjustable Rate Mortgage.
Fixed Rate Mortgages are:
- Most common in 30 and 15 year terms.
- Available for terms anywhere between 8 all the way through 30 years on conventional mortgages.
- The safest option for borrowers looking to stay in their homes long term.
Loan Terms available:
- 30, 25, 20, 15 & 10 Year Terms.
Custom terms between 8 to 29 years are also available.
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What Is a Fixed-Rate Mortgage?
A fixed-rate mortgage is a home loan where the interest rate stays the same during the life of the home loan. The mortgage interest rate is typically slightly above the rate on the Treasury bonds when you take out the loan. However, it won’t change even if Treasury bond yields change.
