Payment Stability And Security With A Fixed Rate Mortgage
Put your mind at ease and use a Fixed Rate Mortgage when buying a home or refinancing your current home. When you use the Fixed Rate Mortgage Program you lock into an interest rate that won't change for the life of your loan. That means no rising mortgage rates or higher payments. You can also shorten the term of your loan to pay off your mortgage in a shorter time period.
- Current interest rates are extremely low. When you lock into one of these low rates that means your monthly payment starts low and stays there.
- You have the option to choose the loan term that is convenient for you. You can choose to have a shorter term and pay less interest over the life of the loan or choose a longer term and have a lower monthly payment. No matter what term you choose you can rest assured that your payment won't change over the course of the loan.
- Don't worry if you don't have 20% for a down payment, you can still take advantage of a Fixed Rate Mortgage and receive a low, fixed payment. Fixed Rate Mortgages are available with as
little as 5% down.
- If you are considering refinancing then a Fixed Rate Mortgage is a great option for you. If you are looking to lower your payment or want cash back from your home but don't want to lose the stability in your payment then the Fixed Rate Mortgage may be what you're looking for.
How A Fixed Rate Mortgage Works
- Your monthly payment is determined by your starting principal loan amount, interest rate, and the amount of your interest amortized over the term of your loan.
- You have options for the length of your loan. You can choose from 10, 15, 20, 25, or 30 years.
- Your actual mortgage payment will vary based on your situation and the current interest rate when you lock in.
- Another security feature that I offer is no pre-payment penalties. You can refinance your mortgage at any time without paying any penalty. You will also not be charged any penalty for selling your home and paying off your mortgage early.
Choose The Term Of Your Loan
- When it comes to the length of your mortgage, you have a choice. Terms available to you are 10, 15, 20, 25, and 30 years.
- A longer term will result in a lower monthly payment, but will increase the amount of interest you will pay over the term of your loan. A shorter term will result in a higher monthly payment, but will decrease the amount of interest you will pay over the term of the loan.
Conventional Fixed Rate Mortgage
Purchase a new home or refinance your current mortgage into a secure, fixed monthly payment
Assumptions:
- Purchase price is based on $150,000
- Downpayment is based on 20% or $30,000 down (Loan Amount is $120,000)
- Interest rate is based on a credit rating of 741 or higher
- Interest rates are subject to change at anytime
- Monthly payment will vary depending on your situation
- My services may not be available in all areas
