Frequently Asked Questions

Here are the answers to the most commonly asked questions about fixed rate home loans.

What are fixed rate home loans?

Fixed rate home loans are mortgage loans that have a stable interest rate and a consistent monthly payment for the life of the loan. Fixed rate home loans are full amortized, which means that interest and principal are combined in your payments so that the loan is paid in full once the term expires. Most fixed rate home loans have terms of 15, 20, 30, or 40 years.

How do I sign up for fixed rate home loans?

You can sign up for fixed rate home loans by filling out our brief, online form. The form will ask for your name, phone number, email address, and other basic contact information. Once we receive your form, we will instantly provide you with at least four free quotes on fixed rate home loans. We show you these quotes side-by-side to help make your comparison shopping convenient and quick. If you see a loan that suits your needs, you can then apply for it on the lender's website. You may also save your quotes and return to our site at any time.

Are you a mortgage lender?

No, we are not a lender, and we do not issue fixed rate home loans. We are a free matching service that connects our visitors with certified local, regional, and national lenders that offer fixed rate home loans. Our goal is to serve as a one-stop-shopping destination for those in the market for fixed rate home loans. Our services are free and come with no obligation.

Are fixed rate home loans right for me?

If you have an aversion to risk, plan to stay in your home for at least five years, and/or expect interest rates to rise in the future, you might consider fixed rate home loans. Fixed rate home loans offer an interest rate that stays the same for the life of the loan as well as a monthly payment that does not change. If you would like consistency and are willing to forgo a lower rate initially, fixed rate home loans might be your best choice.

What should I look for in a loan?

When you compare fixed rate home loans, you should assess the loans' interest rates, prepayment penalties, closing costs, upfront charges and fees, and APRs. Ideally, you want the loan with the lowest rate and least amount of fees.

How long should I make my loan's term?

With fixed rate home loans, you will usually have your choice of a term of 15, 20, 30, or 40 years. Remember that the shorter the term, the faster you will build equity in your home and the lower your interest rates will be. However, longer terms offer the benefit of lower monthly payments. Examine the trade off between lower monthly payments and lower total interest expense when shopping for fixed rate home loans. If you have decided you want to apply for a loan, look at the information we have provided for your preparation to apply.