RedHouse › Opciones de préstamo › Fixed-rate mortgage
Fixed-rate mortgage
Your interest rate and principal-and-interest payment stay the same for the whole term.
Nota: Página en español pendiente: esta página se publicará en español después de la revisión de un oficial de préstamo bilingüe. A continuación se muestra la versión en inglés.
Who it's for
Buyers who want a predictable payment and plan to stay in the home for a while.
How it works
- You pick a term, most often 30 or 15 years.
- The rate is locked before closing and never changes.
- Your principal-and-interest payment stays the same every month; taxes and insurance can still change.
What you'll need
- Two years of employment or income history
- Recent pay stubs, W-2s or tax returns, and bank statements
- A credit history that fits the program
Common questions
Is a shorter term always better?
A shorter term means less total interest but a higher monthly payment. Whether that trade is right depends on your budget and how long you'll keep the home.
Can I pay it off early?
Yes. Conventional fixed-rate loans we arrange have no prepayment penalty.
Por diseño, esta página no muestra tasas, APR, pagos ni porcentajes de pago inicial. Esas cifras solo se publican con la divulgación completa exigida por la Regulación Z.
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