A fixed-rate mortgage is exactly as it sounds. It’s a home mortgage loan where the interest rate is fixed for the life of the loan. If you hate surprises, you’ll love the our fixed-rate mortgage. Once you sign the paperwork, the rate never changes per the original loan term, giving you peace of mind and a monthly mortgage that’s easier on your budget over the long term.
Typical terms for fixed-rate mortgages are 15 years and 30 years. There are also 10, 20, and 25-year terms available. Your fixed-rate mortgage stays locked-in at the percentage point you agree to pay when you seal the deal.
A fixed-rate mortgage is the most basic type of home purchase loan on the market. Borrowers are attracted to the fixed-rate loan because of its rate stability, making it the preferred mortgage choice year after year by thousands of Americans.
WHEN A FIXED-RATE MORTGAGE MAKES SENSE TO YOU
*All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Guidelines subject to change.