What you will love about the Fixed Rate Loan

According to Freddie Mac (FRE), the average 30 year fixed rate mortgage dropped to the lowest rate reported by Freddie Mac since they began keeping track in 1971.

• A fixed rate mortgage has a rate that won't change for the life of your loan. Usually that's 30 years, but it can also be 10, 15, 20, or 25 years.
• Security against rising mortgage rates and higher payments.
• Rates on fixed-rate mortgages are currently at or near historic lows.
• If you know you don't plan on moving or refinancing in the next 10 years or so, the fixed-rate mortgage may be your best choice.
• You can choose the term that's right for you - the shorter your term, the less interest you'll pay;

•  We have a jumbo loan option available for loans over $417,000. Congress has approved changes that may get you a lower rate on a jumbo loan. Call our Jumbo Loan Hotline at (888) 531-0958 to see if you qualify.

  What is the best loan for me?

     Refinance Fixed Rate

During the application process, the subject home will undergo a new appraisal to determine its value, and the homeowner's credit file will be reviewed. The lender will also order a title report on the property to search for any other liens that may appear. Assuming all these items meet with the lender's approval, the loan will be approved.

Once approved, the homeowner will meet to sign the new mortgage. The proceeds of the new loan will be used to pay off the old first mortgage as well as any additional mortgages and liens on the property. Accordingly, the only mortgage showing on the home after the refinance will be the new loan itself.

Fixed-rate mortgages are the most common mortgage for first-time homebuyers because they're stable. Typically the monthly mortgage payment remains the same for the entire term of the loan – whether it's a 15-year, 20-year, 30-year, or 40-year mortgage – allowing for predictability in your monthly housing costs. Apply Today . . .

The Loan Process