Fixed-rate mortgages are the most common type of mortgage selected by homeowners today. You are able to lock into a set interest rate which results in monthly mortgage payments that remain the same for the entire life of the loan. According to Warren Buffet, “the smart way to own a home has three elements: a fixed mortgage, affordable payments, and long-term hold.”


A fixed-rate mortgage (FRM) is a type of mortgage with a specific rate term. A fixed-rate mortgage has a fixed interest rate for the entire length of the mortgage term. These mortgages are typically available in 5 year increments between 10 and 30 year terms. The 30-year fixed rate mortgage is the most common type of mortgage people take out.



Is this right for you?:

A fixed-rate mortgage may be a good option for you if:

If you have any questions regarding what a fixed-rate mortgage is and how it can benefit you, please click here to contact a licensed Mortgaged Loan Originator.