Predictable principal and interest

Fixed-Rate Mortgages

With a fixed-rate mortgage, the interest rate and scheduled principal-and-interest payment remain consistent for the loan term. Taxes, insurance and other escrowed costs can still change.

Term changes cost and payment

A shorter term often creates a higher monthly payment but may reduce total interest. A longer term may lower the scheduled payment while increasing total interest over time.

Match the loan to your plans

Consider monthly cash flow, expected time in the home, savings goals and the cost of refinancing later rather than choosing only by the advertised rate.

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