Fixed Rate Mortgage Loans
You Shop It and We'll Drop It
What is a Fixed-Rate Mortgage Loan?
A fixed-rate mortgage (FRM) is a mortgage loan that has a fixed interest rate for the entire term of the loan. Generally, lenders can offer either fixed, variable or adjustable-rate mortgage loans with fixed-rate monthly installment loans being one of the most popular mortgage product offerings.
These mortgages are typically available in 5 year increments between 10 and 30 year terms. The 30-year fixed rate mortgage is the most common type of mortgage people take out.
Fixed-Rate Mortgage Loans Advantages
- You will always know exactly how much of a payment is due each month. So if lending rates go up you still pay the lower fixed rate that you are in.
Fixed-Rate Mortgage Loans Disadvantages
- If interest rates drop, you still pay the locked-in fixed rate.
- Sometimes a fixed rate loan can be harder to obtain from a lender due to higher monthly payments.
Get in Touch
First time buyer or refinancing? Call for a free quote!learn more
We shop for the best mortgage option at no charge to you.learn more
Crunch the numbers and explore your mortgage options!learn more
Hello Quick Approval.
Save Your Time & Apply Online. Guaranteed Lowest Rates!