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Fixed Rate Mortgages

Home Loan Types Home Purchase Loans Fixed Rate Mortgages

A fixed rate mortgage provides you with an interest rate that stays the same from the moment you close on your mortgage to the day you pay off your loan — keeping your monthly payments consistent and manageable.


A fixed rate mortgage is a great option if you plan to live in your home for a long time. It features a stable, unchanging interest rate that doesn’t rise or drop with market rates. This means your monthly mortgage payments will be the same throughout the duration of your loan. In the event that market rates should drop below your fixed interest rate, you can apply to refinance your mortgage to save on your monthly payments. Fixed rate mortgages are available in a variety of term lengths ranging from 10 years to 30 years.



You must have sufficient income and credit history to qualify for a fixed rate mortgage.


  • Interest rates are set and won’t change.
  • Your monthly payment won’t change.
  • You’ll be protected from rate increases.
  • You may be able to refinance if market rates decrease.


  • Your initial interest rate may be higher than an ARM rate.
  • Your mortgage payments may be higher than initial ARM payments.
  • Your interest rate won’t automatically lower if your market rates decrease.

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