Home Loans > Fixed Rate Mortgages
Fixed Rate Mortgage Programs
Fixed rate home loans are the most popular mortgage programs on the market. They offer the security of knowing that your mortgage rate will not change over the life of the loan, meaning your monthly payments will never change (if you pay your insurance premiums and taxes as part of your mortgage payment these escrowed items could increase over time, but your principal and interest payment will remain constant). American Bank has excellent fixed rate loans with low mortgage rates and borrower friendly terms. Learn more by calling 877-215-2290.
Options For Fixed Rate Mortgages
Fixed rates mortgage loans come in a variety of shapes and sizes. There are several different terms available including 30, 20, 15, and 10 years. If you want to keep payments low a 30 year fixed rate loan may be the best fit for you, but if you can afford the higher monthly cost of a shorter 10 or 15 year mortgage you will save a great deal in interest over the life of the loan.
You may also qualify for an FHA mortgage or VA loan, both available with fixed rates. These government loans allow you to put little or no money down on a home, and may be easier to qualify for than conventional mortgages.