Fixed Rate Mortgage
A Fixed Rate Mortgage offers long-term payment stability, making it one of the most popular home loan options for today’s buyers. Unlike Adjustable Rate Mortgages (ARMs), the interest rate on a fixed-rate loan never changes, which means your principal and interest payment stays consistent month after month, regardless of market conditions. This predictability can help homeowners plan confidently, protect against inflation or future rate increases, and build equity with a clear financial roadmap. Fixed-rate loans are often ideal for buyers who expect to remain in their home for a longer period or who value payment stability above short-term rate advantages.
What is a Fixed Rate Mortgage?
A Fixed Rate Mortgage is a home loan where the interest rate and monthly principal & interest payment remain the same for the entire life of the loan—most commonly for 15 or 30 years. This stability protects you from future interest rate increases and makes long-term budgeting easier. Fixed-rate loans are a strong option for homeowners planning to stay in their home for several years or who prefer the predictability of a steady monthly payment.
About Fixed Rate Mortgage Rates
Fixed Rate Mortgage rates are determined by market conditions, credit profile, down payment, and overall loan structure. Because the rate remains locked for the entire loan term, borrowers are insulated from future interest rate volatility and payment changes. Many homebuyers choose fixed-rate financing for the security it offers, especially when planning for long-term homeownership or seeking a predictable monthly budget.
Fixed Rate Mortgage Requirements
Minimum Credit Score
Typically 620+ for many conforming fixed-rate loans
Minimum Down Payment
As low as 3% – 5%
MAX LTV
Up to 97% LTV for many conforming primary residence purchases, depending on loan program eligibility, credit profile, property type, and mortgage insurance requirements.
Max DTI
Up to 50% DTI is common for many conforming fixed-rate loans, subject to Automated Underwriting System (AUS) approval and compensating factors such as strong credit, assets, and payment reserves.
What type of home can I buy with a Fixed Rate Mortgage?
✔ Single-family homes
✔ Townhomes & condos
✔ Modular & some manufactured homes
✔ 2–4 unit properties (program dependent)
✔ Primary, second home, or investment occupancy options
✔ Townhomes & condos
✔ Modular & some manufactured homes
✔ 2–4 unit properties (program dependent)
✔ Primary, second home, or investment occupancy options
Who is eligible for a Fixed Rate Mortgage?
Borrower eligibility requirements vary by loan program and property type, but generally include:
Minimum Credit Score: Typically 620+ for many conforming fixed-rate loans
Debt-to-Income (DTI): Typically ≤ 50%, depending on AUS findings and compensating factors
Down Payment: As low as 3% – 5% for many primary residence purchases
Income & Employment: Verifiable, consistent income and employment history
Reserves: May be required for certain loan types, multi-unit properties, or investment homes
Occupancy Types: Primary homes, second homes, and eligible investment properties
Minimum Credit Score: Typically 620+ for many conforming fixed-rate loans
Debt-to-Income (DTI): Typically ≤ 50%, depending on AUS findings and compensating factors
Down Payment: As low as 3% – 5% for many primary residence purchases
Income & Employment: Verifiable, consistent income and employment history
Reserves: May be required for certain loan types, multi-unit properties, or investment homes
Occupancy Types: Primary homes, second homes, and eligible investment properties
How to Get Approved
To strengthen your eligibility:
1 Maintain a strong credit history
2 Have an acceptable level of overall debts
3 Document consistent employment & income
4 Prepare funds for down payment + closing costs
5 Complete pre-approval early in the home search
1 Maintain a strong credit history
2 Have an acceptable level of overall debts
3 Document consistent employment & income
4 Prepare funds for down payment + closing costs
5 Complete pre-approval early in the home search
Ready to Move Forward?
Whether you’re just exploring loan options or you’re ready to begin the process, we’re here to make it easier. Get clear guidance, fast answers, and a pre-approval experience built around your goals.