Fixed Rate Mortgages

A Fixed Rate Mortgage may be the the perfect answer for you. Today, Mortgage Rates are still near record lows. Refi or Buy NOW before rates Rise and you Miss Out!

Fixed Rate Mortgage Advantages

Fixed rate mortgages are helpful because they allow you to predict what your housing payments will be in the future. No matter what happens with interest rates, your payments won't change if you've used a fixed rate mortgage. However, payments can change with other risky mortgages.

Fixed Rate Mortgage Disadvantages

With a fixed rate mortgage, you typically have a higher monthly payment than you might have with some of the other mortgage choices. That is because the fixed rate mortgage offers you the safety of knowing that your payments will not increase. Because lenders don't know what will happen with interest rates over the next 15 to 30 years, they charge you for this luxury.

Should You Have a Fixed Rate Mortgage?

You should discuss your particular situation with a talented and helpful lender. Generally, you'll find that fixed rate mortgages are the right choice if:

• You think interest rates are low
• You can afford the payment for the house you want
• You need to budget for and predict monthly payments
• You will keep your home for a relatively long period of time
• Getting the Best Fixed Rate Mortgage

To get the best fixed rate mortgage you just need to shop around and do your homework. Ask for quotes from several lenders, and ask your friends and associates if they can refer an honest lender.

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