Mortgage Fixed Rates

You pay off a 15-year fixed-rate mortgage in half the time it would take you to pay off the traditional 30-year fixed-rate mortgage. This shorter term makes it possible for you to build up equity in your home faster, which can let you move up more quickly to a more expensive home or save more in preparation for retirement or a child's education. This loan is particularly attractive if you're refinancing your mortgage because you can shorten your loan term plus enjoy a lower interest rate. Fifteen-year mortgages are usually offered at interest rates lower than those available with 30-year mortgages. However, higher monthly payments may make it more difficult to qualify for the 15-year fixed-rate mortgage compared to the 30-year fixed-rate mortgage.

20 Year

With a 20-year fixed-rate mortgage, you can build up equity in your home more quickly than with a traditional 30-year mortgage and save interest over the life of your loan. As with all fixed-rate mortgages, the interest on your loan never changes, bringing you peace of mind that your principal and interest payments will remain level over time. However, higher monthly mortgage payments may make the 20-year fixed-rate mortgage more difficult to qualify for compared to the 30-year fixed-rate mortgage.

30 Year

The most popular type of mortgage, the 30-year fixed-rate loan is most appealing to borrowers who want to stay in their homes for a long period of time and who want to enjoy consistent interest payments during this period. Other benefits include keeping housing expenses to a minimum while maximizing mortgage interest deductions for income tax purposes.

40 Year

By increasing the standard loan term from 30 to 40 years, monthly payments are lower, thus making them more affordable, and increasing borrowers' purchasing power. The 40-year Mortgage is ideal for borrowers who face affordability issues and think homeownership is beyond their reach. First-time homebuyers, or those living in high-cost areas seeking manageable monthly payments may find this amortization term attractive. The 40-year Mortgage is eligible on both standard fixed-rate products as well as our standard 3/1, 5/1, 7/1 and 10/1 hybrid ARMs.

Biweekly Mortgage

A mortgage with affordable payments and faster reduction of principal
Let the calendar work for you! With a Biweekly Mortgage, you make a mortgage payment every 14 days, instead of once a month. The result? By making smaller payments more frequently, you will pay off your mortgage sooner and save thousands of dollars in interest over the life of the mortgage. A Biweekly Mortgage gives you the stability of a fixed-rate mortgage and the convenience of having payments automatically deducted from your checking, savings, or other deposit account.
 

Expanded Approval® with Timely Payment Rewards® (EA/TPR®) -- Fixed Rate
An Option for Borrowers with Less-than-Perfect Credit

If you are concerned about past credit problems keeping you from getting approved for a mortgage and being able to buy a home, Expanded Approval® may be for you. With Expanded Approval, lenders can take a broad view of your overall financial situation, not just focus on past credit problems. This way, Expanded Approval helps borrowers with less-than-perfect credit buy a home at a competitive interest rate. In addition, if your lender offers the Timely Payment Rewards® feature, you actually can reduce your interest rate if you make your mortgage payments on time for 24 consecutive months. Many Americans have been able to get into homes with Expanded Approval--so can you!