Fixed Rate Mortgages

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If an Adjustable Rate Mortgage (ARM) isn’t right for you, then a fixed rate mortgage is likely the best choice for you. With a fixed rate loan, the interest rate can never change. The principal and interest component of your loan payment will not vary over the life of your loan. You can get various loan terms (amortization periods) with fixed rate loans. Available terms are 10, 15, 20, and 30 years. Typically, borrowers can get lower rates on shorter term loans. However, the shorter term loans require that you pay your principal faster, so the monthly payments are usually higher for a shorter term loan. Watch the video to learn more about buying a home with a fixed rate mortgage.

To contact any of us at Dunwoody Mortgage Services, click here!

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