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Fixed Rate Loans |
Fixed Rate Loans:
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Many FIXED RATES are compounded over the life of the loan usually a 30 year term, sometimes you can request a 15 year loan, other FIXED RATE loans come in 40 or 50 year terms.
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A FIXED RATE loan are great because the interest rate doesn't fluctuate during the term of the loan. This allows you to accurately predict your future monthly payments with certainty.
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On many FIXED RATES you are paying both Principal and Interest together, at the beginning on the loan term you will be paying more interest, and closer towards the end of the loan term you will be paying more principle.
- Some FIXED RATES come with an Interest Only Option, this means that on your FIXED RATE you will be paying only Interest and no Principal, this creates a lower payment on the loan term, but does not take the equal amount of Principal payments into the loan term.
Other Benefits of A Fixed Rate Loan:
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Are that you can decrease these loans by 7 years on a 30 YEAR FIXED RATE loan, because you are paying both principal and interest together we can structure your payment to allow more principal to you lender and create a 22 year pay-off of a 30 year loan.
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To find out more about how this works call us today to find out more or complete the information inquire below: