Fixed Rate Mortgage
A fixed rate mortgage is the most common and conventional mortgage available. It can be for any period of time, but the usual length is 20 or 30 years. Learn more about a Fixed Rate Mortgage below and give us a call to see if it’s right for you.
The Rate
A fixed interest loan is set from the day you sign the purchase paperwork. Once you lock in your rate, it will not change. That’s the biggest benefit. No matter what the market does, your monthly payments are predictable. Talk about convenient budgeting. You can always give us a call to explore what rates are available to you.
The Time
While each payment amount in a Fixed Rate mortgage is the same, the value of that payment depends on how long you want your mortgage to last. The short end of the spectrum is usually 10 years while the long end is typically 30. We can help you review your options to determine which one is best for your financial situation both now, and 10-30 years from now.
Lock In Your Rate
If you like the idea of a steady, fixed payment, with a rate guaranteed for the life of the loan, a Standard Fixed Rate Mortgage may be right for you.