Purchase
Fixed Rate Mortgage
One interest rate and a predictable principal and interest payment for the life of the loan.
What it is
With a fixed-rate mortgage your interest rate never changes. Your principal and interest payment stays the same from the first payment to the last.
Who it's great for
- Buyers planning to stay put
- Anyone who values predictability
- Long-term budgeting
Key features
- 15, 20, 25 or 30-year terms
- Payment stability
- Easy to budget
General requirements
- Depends on the loan type (conventional, FHA, VA, etc.)
- Income and credit documentation
- Down payment per program
General guidelines only. Every loan is subject to credit approval, underwriting and property review. Not a commitment to lend.
Common Questions
15 or 30 years?
A 15-year builds equity faster with a higher payment. A 30-year keeps the payment lower. I'll show you both.
Will my payment ever change?
Principal and interest won't. Taxes and insurance can change.
Can I pay it off early?
Most loans I offer have no prepayment penalty.
Is fixed always best?
Not always. If you'll move in a few years, an ARM may be worth a look.
Is a Fixed Rate Mortgage Right for You?
Let's talk about your situation. Honest answers, no pressure.
NMLS #172296 | Licensed in Colorado