Fixed Rate Mortgages

Do you prefer regular mortgage payments with no surprises? Plan on staying in your home for a long time?

Fixed-Rate Mortgages offer:
- Predictable payments
- The monthly principal and interest payment is fixed over the life of the loan.
- Protection from rising interest rates
- No matter how high market interest rates go up, your mortgage rate remains the same over the life of your loan.
- A choice of loan length (Typically 10, 15, 20, 25, 30, 40 year repayment schedules)

Best for people who:

-Prefer regular payments with no surprises
- Are on limited or fixed incomes
- Plan to stay in their homes a long time
- Are purchasing or refinancing at a time when interest rates are comparatively low

Fixed-rate mortgages (also known as FRMs) offer the same interest rate, monthly principal and interest payment throughout the entire term of the loan. Wells Fargo Home Mortgage offers a variety of terms in government, conforming, and jumbo loan amounts. The longer the term, the lower the monthly payments and the more cash you'll have for other expenses. With a shorter term, you'll have higher monthly payments and you'll qualify for a smaller loan amount, but you'll save on interest costs over the life of the loan and build your equity faster. The fixed-rate mortgage loan is the "traditional" choice and is still the most popular because it offers stability and predictable monthly payments.