Fixed Rate Mortgages
Lock your rate for the life of the loan — the same payment in year fifteen as on day one.
What Is a Fixed Rate Mortgage?
A fixed rate mortgage does exactly what the name says: the interest rate is locked for the entire life of the loan. Your principal-and-interest payment on day one is the same payment you'll make in year fifteen. Taxes and insurance can shift, but the part of the payment tied to the loan itself doesn't budge.
That predictability is why it's the loan most people picture when they think "mortgage." The 30-year fixed in particular is the workhorse of American home lending — and when rates are low, locking one in is hard to beat.
Here's a detail a lot of first-time buyers don't realize until they see their amortization schedule: in the early years, most of your monthly payment goes toward interest, not the balance. That flips over time. As the loan pays down, more of each payment chips away at the principal until, at the end of the term, it's paid off in full. Shorter terms like a 15-year usually come with a lower rate and build equity faster — you just trade that for a higher monthly payment.
Is a Fixed Rate Mortgage Right for Me?
If the thought of your payment changing keeps you up at night, this is your loan. It's built for buyers who plan to stay put for a while and want to know exactly what their payment will be for years to come — and it's the natural fit when rates are already low and you want to lock them in before they move.
Benefits of a Fixed Rate Mortgage
Your Rate Never Changes
The interest rate is locked, so your principal-and-interest payment stays the same for the full term.
Easy to Budget
No surprises and no rate-reset letters in the mail. You always know what you owe.
Choose Your Term
A 30-year keeps payments lower; a 15- or 20-year gets you a better rate and faster payoff.
Fully Paid Off
The loan is fully amortizing, so it is paid off completely at the end of the term.
Eligibility
Qualifying comes down to the usual pillars: credit history, income and employment stability, debt-to-income ratio, and your down payment. Fixed rate loans come in both conventional and government-backed options (FHA, VA, USDA), so the exact bar depends on which program you pair it with. Talk to a loan officer about your numbers — the right program often depends on your credit and how much you're putting down.
FAQs
Fixed Rate Mortgage FAQs
It depends on your goal. A 30-year keeps your monthly payment lower and gives you breathing room. A 15-year carries a lower interest rate and builds equity much faster, but the payment is higher. If cash flow is tight, the 30-year wins; if you can handle the bigger payment and want to be debt-free sooner, the 15-year saves you a lot in interest.
That is just how amortization works. Interest is calculated on the outstanding balance, which is highest at the start. As you pay the balance down, the interest portion shrinks and more of your payment goes to principal.
Most fixed rate loans let you make extra principal payments without penalty, which shortens your term and cuts total interest. Confirm there is no prepayment penalty before you sign.
Nothing automatically — your rate is locked. But you can refinance into a lower rate if it makes sense for your situation.
What Our Clients Say
“Don was incredible to work with throughout my entire home-buying process as a first-time buyer. He was always quick to respond, happy to run different numbers for me, and consistently helped me stay on top of my timelines and due dates.”
Cailyn Hankins
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