What Is a Fixed-Rate Mortgage?

Among the most popular in the United States, a fixed-rate mortgage appeals to many borrowers because it offers a consistent mortgage payment amount over the life of the loan.

The greatest benefit of a fixed-rate mortgage is that the interest rate remains unchanged for the duration of the loan; however, loans with longer terms will have a higher interest rate than loans with shorter terms due to interest rate risk, or the possibility of fluctuating interest rates. 

Fixed-Rate Mortgage Benefits

Fixed-rate mortgages allow you to easily budget your finances by making consistent, fixed payments over the duration of your loan. 

Fixed-rate mortgages allow you to lock-in an interest rate and principal payment for the entire life of the loan. Your rate and principal payment never increase, even if the market changes – giving you peace of mind. 

Other benefits include:

• Competitive interest rates
• Locked interest rate for the life of your loan
• Easier-to-understand loan terms and paperwork

Get Pre-Qualified for a Fixed-Rate Mortgage

With flexible options, program expertise, and superior service, we’ll work with you from application to closing to ensure a smooth loan process and create a loan program that meets your financial needs and goals. Let's get started today.