Fixed rate loan option
Fixed-rate mortgage plans are available at Mortgage Investors Group. Speak with a MIG loan officer today to find out if it's the right option for your situation. A fixed rate mortgage may be an ideal option if you: Want a consistent, predictable monthly payment over the entire loan term; Are concerned about interest rate Learn the difference between a fixed-rate and adjustable-rate mortgage loan. period of time, you may find that a fixed-rate mortgage is the best option for you. Search mortgage rates and learn more about the benefits of home refinance. to help more customers in more ways by offering Quicken Loans® mortgage options. Take advantage of our competitive rates for fixed-rate mortgages if set Most popular option. The payment on a fixed rate loan does not change during the term of the loan. Refinance options available. Apply Now. Interest rates as Conventional Fixed-Rate Loan. With a conventional fixed rate mortgage, your interest rate never increases. Even if rates go up, your rate will remain the same. This Find the perfect option to fit your home loan needs. Conventional (Fixed Rate) Loan With consistent payments and low interest rates throughout the life on the
Find the perfect option to fit your home loan needs. Conventional (Fixed Rate) Loan With consistent payments and low interest rates throughout the life on the
With a fixed-rate mortgage or a conventional loan, the interest rate won’t change for the life of your loan, protecting you from the possibility of rising interest rates. The best fixed rate Conventional mortgages may offer a lower interest rate and APR than other types of fixed-rate loans. The current rate for the 30-year fixed refinance mortgage is based on a $985 origination fee; 1.5 discount points and would yield 360 equal payments. The current rate for the 15-year fixed refinance mortgage is based on a $985 origination fee; 1.375 discount points and would yield 180 equal payments. A 10-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 10-year loan period. A 10 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate. But monthly payments are higher than with fixed rate mortgages that have longer terms. FIXED RATE LOANS If you are planning on staying in this home for the long haul or just looking for some stability in your monthly payment, a fixed rate loan is likely the right choice for you. With a "fixed" rate loan the interest rate remains the same over the term of the loan so your payments remain the same as well.
Home Equity Line of Credit: 3.99% Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit with an 80% loan-to-value (LTV) or less. The Introductory Interest Rate will be fixed at 3.99% during the 12-month Introductory Period. A higher introductory rate will apply for an LTV above 80%.
FIXED RATE LOANS If you are planning on staying in this home for the long haul or just looking for some stability in your monthly payment, a fixed rate loan is likely the right choice for you. With a "fixed" rate loan the interest rate remains the same over the term of the loan so your payments remain the same as well. With a variable-rate loan, on the other hand, your interest rate is not fixed for the life of the loan. It may be fixed for a set period of time. For example, if you took out a variable rate or Additional Fixed Rate Loan Options VA Loan - No down payment is required, in most instances, for a VA Home Loan. Additionally, there is no private mortgage insurance requirement. FHA Loan - Typically, a Federal Housing Administration loan is easier to qualify for than other loan types due to lower
What's the best option for you? There's no universal right or wrong answer. The decisions on loan amount, term, and fixed or variable rate all depend upon your
Our home loan options include: 30-Year Fixed Rate Mortgage. 15-Year Fixed Rate Mortgage. Adjustable Rate Mortgage. Jumbo Loan. FHA Loan. VA home loan. Interest Only Mortgage. When it comes to home renovations, a fixed-rate loan would be a better option, since a hybrid or variable HELOC could experience market changes and end up costing you more than your initial rate. The main advantage of a fixed-rate loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. Fixed-rate mortgages are easy to understand and vary little from lender to lender.
8 May 2012 As with any loan, the borrower's existing credit history will factor into the final interest rate, and Sallie Mae's fixed-rate loans can reach as high
Our traditional mortgage is an excellent option for homebuyers looking for a simple fixed-rate loan up to the current conventional loan limits set by the Federal Does a Fixed-Rate Loan Option make sense for you? Transfer higher interest-rate credit card or installment loan balances from other financial institutions to your HELOC — and then set up Protect against rising interest rates. If variable rates on your HELOC balance move above the fixed rate of Traditionally, if you wanted to borrow against the equity in your home, you could either get a fixed-rate home equity loan or draw money against a home equity line of credit (HELOC), a closed-end line of credit with a variable interest rate. Now there’s a third choice: the HELOC fixed-rate option. An amount paid to the lender, typically at closing, in order to lower the interest rate. Also known as mortgage points or discount points. One point equals one percent of the loan amount (for example, 2 points on a $100,000 mortgage would equal $2,000). Fixed Rate Option: Must convert a minimum balance of $10,000 to Fixed Rate Option and may not exceed the credit limit. Loan term cannot exceed loan maturity date. Maximum of three Fixed Rate Options may be open at one time. Rates for the Fixed Rate Option are typically higher than HELOC variable rates.
The main advantage of a fixed-rate loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. Fixed-rate mortgages are easy to understand and vary little from lender to lender. With a fixed-rate mortgage or a conventional loan, the interest rate won’t change for the life of your loan, protecting you from the possibility of rising interest rates. The best fixed rate Conventional mortgages may offer a lower interest rate and APR than other types of fixed-rate loans. The current rate for the 30-year fixed refinance mortgage is based on a $985 origination fee; 1.5 discount points and would yield 360 equal payments. The current rate for the 15-year fixed refinance mortgage is based on a $985 origination fee; 1.375 discount points and would yield 180 equal payments. A 10-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 10-year loan period. A 10 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate. But monthly payments are higher than with fixed rate mortgages that have longer terms. FIXED RATE LOANS If you are planning on staying in this home for the long haul or just looking for some stability in your monthly payment, a fixed rate loan is likely the right choice for you. With a "fixed" rate loan the interest rate remains the same over the term of the loan so your payments remain the same as well.