Fixed Rate Loans
"Lock in your rate. Lock in your peace of mind."
The most popular mortgage in America. Your rate stays the same for the entire loan, giving you predictable payments forever. Available in 15, 20, 25, and 30-year terms.
3% (20% to avoid PMI)
Min Down
620+
Min Credit
$766,550 conforming
Max Loan
Is This Loan Right for You?
This Loan is Perfect If You...
- Want payment predictability month after month
- Plan to stay in home 7+ years
- W-2 employee with tax returns
- Credit score 620 or higher
- Want to lock in today's rates
This Might NOT Be Right If...
- Moving in 3-5 years (consider ARM)
- Self-employed without tax returns (see Non-QM)
- Need absolute lowest initial payment
- Comfortable with rate adjustments
Fixed Rate Loans Benefits
Everything you need to know about your benefits
Rate Never Changes
Your interest rate is locked for the entire loan - no surprises
Predictable Payments
Same payment every month makes budgeting easy
As Low as 3% Down
Start building equity without a huge down payment
PMI Removal
PMI drops automatically once you hit 20% equity
Refinance Anytime
Rates drop? Refinance to a lower rate with no penalty
Multiple Terms
Choose 15, 20, 25, or 30 years to fit your goals
How It Works
Your path to homeownership in just a few simple steps
Get Pre-Approved
Quick credit check and income review to know your budget
Find Your Home
Shop with confidence knowing your rate and payment
Lock Your Rate
Secure your rate while we finalize the mortgage
Close & Move In
Sign the papers, get the keys, enjoy your fixed payment
Get Pre-Approved
Quick credit check and income review to know your budget
Find Your Home
Shop with confidence knowing your rate and payment
Lock Your Rate
Secure your rate while we finalize the mortgage
Close & Move In
Sign the papers, get the keys, enjoy your fixed payment
Types of Fixed Rate Loans
Choose the option that fits your situation
30-Year Fixed
America's most popular choice. Lower payments free up cash for other goals. Best for first-time buyers and budget flexibility.
20-Year Fixed
Pay off faster than 30-year with payments lower than 15-year. Best for homeowners wanting middle ground.
15-Year Fixed
Build equity fast, save tens of thousands in interest. Best for higher earners and pre-retirement.
25-Year Fixed
Slightly higher payment than 30-year but saves years of interest. Best for those wanting to shave 5 years off.
What You'll Need to Apply
Standard documentation for conventional loans
Income Verification
- W-2s from past 2 years
- Pay stubs (most recent 30 days)
- Tax returns (if self-employed)
Consistent employment history preferred
Asset Verification
- Bank statements (2 months)
- Retirement/investment accounts
- Gift letter (if using gift funds)
Need to show down payment source
Property & Credit
- Purchase contract
- Property insurance quote
- Credit authorization
We pull credit during application
Self-Employed?
If you're self-employed, you may need 2 years of tax returns. If you prefer to use bank statements instead, check out our Bank Statement Loans.
Fixed Rate Term Comparison
| Feature | 30-Year(This loan) | 15-Year |
|---|---|---|
| Monthly Payment | Lower ✓ | Higher |
| Interest Rate | Higher | Lower ✓ |
| Total Interest Paid | More $$$ | Less $ ✓ |
| Equity Building | Slower | Faster ✓ |
| Monthly Cash Flow | Better ✓ | Tighter |
| Best For | Affordability/Cash Flow | Paying Off Quickly |
* Rates and terms subject to change. Contact us for current offers.
Frequently Asked Questions
Common questions about Fixed Rate Loans
Last updated:
What credit score do I need for a fixed-rate mortgage?
The minimum credit score is 620 for most conventional fixed-rate mortgages. However, you'll get better rates with a 740+ score. Your credit score affects your rate, so even a small improvement can save you thousands over the loan.
Should I choose 15-year or 30-year fixed?
It depends on your goals. A 30-year fixed has lower monthly payments, giving you more flexibility. A 15-year fixed has higher payments but you'll pay significantly less interest overall and build equity faster. Many borrowers start with 30-year and make extra payments when possible.
Can I pay off a fixed-rate mortgage early?
Yes! There are no prepayment penalties on conventional fixed-rate loans. You can make extra payments, pay bi-weekly, or pay off the entire balance early. Every extra dollar goes directly to principal.
- Conforming loans are up to $766,550 (2024 limit) and follow Fannie Mae/Freddie Mac guidelines with the best rates. Jumbo loans are above this limit and have slightly different requirements and rates.
- No. You can put down as little as 3% on a fixed-rate conventional loan. However, putting down less than 20% requires Private Mortgage Insurance (PMI) until you reach 20% equity.
Get Rate Drop Alerts
We'll notify you instantly when rates drop to your target.
Predictable Payments Forever
Lock in your rate in 15 minutes
Or call us directly: (757) 558-2603