Fixed Rate Mortgages (FRM)

Fixed rate mortgages are traditional loans in which the interest rate and principle monthly payments do not change for the entire duration of the loan. (Your escrow payment will most likely change annually.) While usually more expensive than ARMs, these loans are preferred by many borrowers because they are predictable. These loans are best suited for people who plan to stay in their home long term, ie, more than 7 years.


  • Provides peace of mind due to knowing exactly what your mortgage payment will be each month for years to come
  • Interest rate is locked in, so if the market rates rise, you’ll often save money compared to those with adjustable rate mortgages
  • Not limited to first time home buyers
  • Best fit for buyers planning to stay in their home long term
  • Good for buyers with very good credit (FICO score of 740 or higher)
  • Can be refinanced later down the road


  • 15 year
  • 20 year
  • 30 year

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