Consider a fixed rate mortgage if you:

• Want the certainty of a fixed principal and interest payment.
• Believe interest rates will probably go up.
• Are on a fixed or restricted budget.

Which term is right for you?
A 30-year loan has lower payments, but you pay longer. Payments on a 15-year or 10-year mortgage will be higher, but not two or three times higher.

This example compares the principal and interest payments for a 30-year, 15-year and 10-year mortgage based on the same loan amount and rate.

Mortgage Amt     Rate     #Years     APR       Principal & Interest Payment
    $50,000             9%          30      9.006%            $402.86
    $50,000             9%          20      9.008%            $449.87
    $50,000             9%          15      9.009%            $507.13
    $50,000             9%          10      9.013%            $633.38

(Assumes loan to value below 80% with no PMI insurance. Rates shown are for illustration purposes only and do not represent current rates as published elsewhere in the site.)

All these figures are great, but what do they mean? Well, let's compare the 15-year to the 30-year mortgage. By paying $104.81 more per month...  you own your home in half the time
               and save a total of $53,550 in interest.

Plus, unlike our simple example above, interest rates on 15-year mortgages are usually lower than on 30-year loans, so you could save even more. And if you compare the 10-year mortgage to the 30-year mortgage in our example, you save a total of $68,829.60 in interest payments.

Many of our loan programs are available with fixed rates including FHA and VA loans. 

To find out more about our Fixed Rate Programs or to Apply/Refinance: