Fixed Rate Mortgage

Make fixed payments for the life of the loan

If you’re looking for the predictability of a fixed payment, look no further than a fixed-rate mortgage.

This mortgage type offers a set interest rate, resulting in a fixed payment amount that will not change over the life of the loan. It’s particularly popular with first-time home buyers, and anyone who finds it easier to budget and plan around the predictability of a fixed payment. Loan lengths vary, but the most common term is 30 years.

Ideally Suited for

• People seeking the predictability of a fixed payment

• Home buyers planning to keep their home for 10 years or more. Many adjustable rate mortgages allow for rate fluctuations after a specific time period, such as 5 or 10 years.

• Those with adequate credit. If you have lower credit scores, you may find an adjustable rate mortgage offers a lower initial monthly payment than a fixed rate mortgage.

Loan Features

• Fixed rate terms range from 10 to 30 years

• Stable payment and rate

• Up to 97% financing for purchase loan

• Wide range of conventional and government (FHA, VA & USDA) loan options available

Custom fixed rate options

Looking to refinance without re-extending loan terms? Want your payments to wrap up at a certain time? Then choose your own fixed rate loan term. This option is available for a wide range of conventional and government loans.

Ideally Suited for

• Those looking to refinance without re-extending their terms

• Homebuyers who want to free up cash flow at a particular time, for instance at retirement

Loan Benefits

• Term fits borrower’s time horizon

• Lower life-of-loan interest payments