Fixed Rate Mortgage
Fixed Rate Mortgages
Fixed rate mortgages offer a fixed interest rate for the life of your loan. Terms range anywhere between 10 years to 30 years. The shorter the term, the less overall interest you pay on the loan. Shorter terms also allow you to build equity faster in the home. Because the interest rate is fixed, it makes your family budgeting easier.
- No prepayment penalty
- Lower interest rates
- Your fixed rate is not dependent on external economic indexes