Fixed Rate Loans

(8 to 30-Year Terms)

Get a fixed interest rate and lower monthly payments!

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Who Are Fixed Rate Loans Best For?

If you want to make lower monthly payments and plan to stay in your home for a long time, a Fixed Rate Loan could be the ideal option for you.

The Fixed Rate Loan option is also great for people who want the option to pay more than the required amount at any time – and the predictability of a fixed interest rate.

How Do Fixed Rate Loans Work?

F5 Mortgage can help you get a Fixed Rate Loan with terms anywhere from 8-years up to the standard 30-year option. These are great choices for those who want a consistent payment where the principal and interest portion of the payment won’t ever change for the duration of the loan. With Fixed Rate Loans, you’ll make the same monthly payment over 30 years.

Want to pay the loan off more quickly to save on interest? You can make additional payments against your principal balance at any time without penalty.

How Do I Qualify For A Fixed Rate Loan?

  • General minimum 3% – 3.5% down payment
  • Minimum 620 FICO® Score depending on loan type
  • Debt-to-income ratio (DTI) of no more than 50%
  • 3% – 6% of the purchase price to cover closing costs

Take the first step toward the right mortgage.

Apply online or over the phone. Our team at F5 Mortgage would love to help!

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Fixed Rate Loan Benefits

  • Your monthly payments will be less for a 30-year fixed loan than they would be if you choose a shorter term length, even though interest rates for a shorter term (i.e., 15-year fixed loan) are generally a little lower. That’s because your payments will be spread out over a longer period.
  • You can pay off your mortgage at any time without prepayment penalties.
  • You maybe able to avoid mortgage insurance with a down payment of 20% or higher.
  • Your interest rate is fixed for the life of the loan, so you don’t have to worry about rising rates.
  • You can buy your primary home with as little as 3% down.
  • You can refinance your primary home for up to 97% of its value.

Mortgage Insurance Requirements

You’ll have to pay primary mortgage insurance (PMI) with your Fixed Rate Loan if your down payment is less than 20%.

  • This typically costs between 0.5% and 1% of your loan amount per year, spread over 12 payments.
  • Once you reach 20% equity in your home, you may be able to request to cancel PMI.
  • PMI is often canceled automatically once you reach 22% equity.
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Our Clients Absolutely Adore Us

5/5 Star Reviews on Lending Tree, Google, and Zillow.

Awesome work. I enjoyed getting help with my loan through F5 Mortgage. Highly recommend to anyone who is looking for true experts.

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Excellent! I highly recommend F5 Mortgage team. Everything went very smoothly!

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Ryan and his team are amazing! I was pretty confused at the start of all this, but they helped me so much along the way.

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