What Is a Fixed Rate Mortgage?
A fixed rate mortgage is just that: a mortgage with a fixed interest rate. Unlike adjustable rate mortgages (ARMs), the interest rate never changes. You’ll know exactly what to expect on your mortgage bill. Borrowers simply pay down the value of the loan, while paying interest on the loan.
Our Options
MortgageBase offers super jumbo fixed rate mortgages with 15, 20, and 30 year terms. The length of the term will be a major factor in determining the interest rate on a home loan. Loan rates are also determined by all of the following factors:
- The borrower’s credit score.
- The location and value of the property.
- The amount of the loan.
- The down payment on the property.