Fixed-Rate Loan
A fixed-rate loan has a fixed interest rate that does not change during the life of the loan. These loans offer the comfort of steady payments and are available in a number of different terms.
Fixed-Rate Loans Offer:
- Locked-in interest rates for the life of the loan
- Consistent payment amounts each month
- Simpler requirements than other mortgage loans
Fixed-Rate Loans are Ideal for:
- Individuals who plan to own the home for a long term
- Individuals who prefer the comfort of consistent payments
- Individuals with steady incomes