Predictable monthly paymentsChoose a term that works for youBuild equity consistently
Enjoy a consistent monthly payment for up to 30 years with no surprises.
Build more equity with a 15-year term or save more every month with a 30-year.
Know exactly how your mortgage fits into your budget and plan accordingly.
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See your best loan options with technology that analyzes your finances in real time.
Pick the right loan and term that helps you achieve your unique homeownership goals.
Get approved and funded quickly, so you can enjoy your new financial freedom.
A fixed-rate mortgage offers payment certainty with the same principal and interest payment every month for the life of the loan.
10, 15, 20, 25, or 30 years. Shorter terms have lower rates and higher monthly payments, but you pay them off faster; longer terms have lower monthly payments but cost more in interest over time.
The locked rate applies for the entire loan term; no resets, no adjustments, no surprises. Apply online to get your personalized loan options.
Standard 30 to 45-day closing timelines apply for purchases; refinances often close faster.
Your principal and interest payment never changes. Property taxes and insurance may adjust over time, but the loan portion stays fixed.
Unlike an adjustable-rate mortgage (ARM), a fixed-rate loan never resets. The rate you lock at closing is the rate you pay until the loan is paid off or refinanced, through every market cycle.
The fixed-rate mortgage is the default in U.S. home lending because predictability matches how most people want to budget.
If you plan to stay 7+ years, fixed-rate eliminates the rate-reset risk that ARMs carry.
Some borrowers prefer paying a small rate premium for the security of knowing the payment never changes.
Locking the payment means inflation in other categories doesn't squeeze your housing cost.
Predictable payments help new homeowners budget for the unknowns of first-year homeownership.
Fixed-rate underwriting follows standard mortgage qualification.
620+ for conventional; 580+ for FHA; VA and USDA have flexible minimums. Higher scores get better rates.
43–50% maximum with the new payment included.
3% (some conventional), 3.5% (FHA), 5%+ (conventional), 0% (VA, USDA for eligible borrowers); 20%+ avoids PMI on conventional.
Employment verification covering the past two years, current paystubs, and bank statements showing down payment and closing cost funds. Self-employed borrowers submit tax returns in place of W-2s.
Both fund the same home, but the interest rate works very differently. The right choice depends on how long you plan to stay and your tolerance for rate uncertainty.
Fixed-rate loans are the gold standard for predictability, but the certainty costs slightly more in initial rate.
Principal and interest don't change for the full term, regardless of what happens to market rates.
If rates climb after you close, your payment is unaffected.
Budgeting decades into the future is straightforward when housing cost is fixed.
10, 15, 20, 25, and 30-year options let you match the term to your goals.
Unlike ARMs, fixed-rate loans never adjust; eliminating payment shock risk.
Fixed-rate borrowers pay a small premium for the rate certainty.
If market rates fall significantly, you'll need to refinance (and pay closing costs) to capture the new rate.
The same loan amount may carry a higher payment in the first few years compared to an ARM.
Once locked, you're committed to the rate until you refinance or pay off the loan.
Buyers planning to move in 3–5 years may save with an ARM and accept the rate-reset risk that comes later.
A fixed-rate mortgage lets you lock in an interest rate when you close on your home loan and stays the same until you’ve made your final payment. You’ll know precisely what you’ll pay each month for principal and interest for the entire term — whether that’s 10, 15, 20, 25, or 30 years. No surprises or adjustments despite economic changes.
Several types of fixed-rate mortgages are available, including conventional home loans and jumbo loans, which cover larger mortgage amounts that exceed the Federal Housing Finance Agency (FHFA) limits.
Government agencies back other fixed-rate loan types and often come with less restrictive eligibility requirements:
The choice depends on your personal financial situation and risk tolerance. A fixed-rate mortgage may be the better option if you prefer predictability and want to know exactly how much you’ll pay monthly. However, if you’re comfortable with a bit of uncertainty and want to save money in the short term, an adjustable-rate mortgage may be a better fit.
Yes, you can refinance a fixed-rate loan. Refinancing replaces your current mortgage with a new one, potentially with a lower interest rate, different term length, or changed loan program altogether. Common reasons to refinance include:
Just like your original mortgage application, refinancing requires credit checks, income verification, and a home appraisal. Many homeowners find that the long-term savings justify the upfront closing costs, especially if you plan to stay in your home for several years. Get a rate quote today.
When deciding on a mortgage, knowing both sides of the fixed-rate coin helps you make the best choice for your financial situation. Fixed-rate loans offer certainty but come with trade-offs compared to adjustable options. Here’s how they stack up:
Pros:
Cons:
