Fixed Rate Mortgages
Fixed Rate Mortgages are mortgages in which the interest rate and monthly loan payments remain the same throughout the duration of the loan. If you like to plan for the long-term and don't like to take risks, you may be best suited for a fixed-rate loan. We offer 15- and 30-year fixed-rate terms, on both conforming and jumbo loans, all with a variety of features.
We establish your interest rate and monthly payment amount when the rate is locked on the loan. You might pay a little more for the security of a fixed-rate mortgage, but for many people, the resulting peace of mind is worth it.
Advantages
- Guaranteed rate for the term of the loan once you lock
- Protection from rising interest rates
- Fixed monthly payment amount
Variations:
- 15 and 30 year terms: Fixed Interest rate and monthly loan payments over the life of your loan.
Consider a Fixed-Rate Mortgage if:
- Your income is consistent and reliable
- You're willing to pay more for the security of fixed monthly payments
- You plan on keeping the same mortgage for a minimum of 7 years.