Do you prefer regular mortgage payments with no surprises? Plan on staying in your home for a long time?
Fixed-Rate Mortgages offer:
- Predictable payments
- There are fixed monthly payments for the life of the loan.
- Protection from rising interest rates
- For the life of the loan — no matter how high market interest rates go up — your rate remains the same.
- Faster equity growth in comparison to other mortgage options such as ARMs and Balloon Mortgages
Best for people who:
- Prefer regular payments with no surprises
- Are on limited or fixed incomes
- Plan to stay in their homes a long time
- Are purchasing or refinancing at a time when interest rates are comparatively low
Fixed-rate mortgages (also known as FRMs) offer the same interest rate, monthly principal and interest payment throughout the entire term of the loan. We offer a variety of terms in both government conforming and jumbo loan amounts. The longer the term, the lower the monthly payments and the more cash you'll have for other expenses. With a shorter term, you'll have higher monthly payments and you'll qualify for a smaller loan amount, but you'll save on interest costs over the life of the loan and build your equity faster. The fixed-rate mortgage loan is the "traditional" choice and is still the most popular because it offers stability and predictable monthly payments.
