
Some surprises are good, but not the kind that result in
a higher mortgage payment. With a fixed rate loan, you don’t have any unwanted
surprises along the road to home ownership because the principal and interest on your monthly mortgage payment
will always be the same. That’s because you lock in a interest rate for the
entire loan life.
- Gives you peace of mind in knowing your payment will never change (principal and interest)
- Locks in your interest rate - beneficial since rates are still historically low
- Same payment every month helps you budget better