A fixed-rate mortgage has an interest rate that will not change over the life of the loan and are one of the most common types of home mortgages available. You can choose a conventional loan, or a government-backed loan like the FHA, VA and USDA mortgage programs - all of which can be used to buy a new home, or to refinance your current home.
- Your interest rate will never change, even if the overall market rates go higher
- Your monthly payments stay predictable for the life of the loan1
- Lower monthly payments are available on long-term fixed-rate mortgages
- The interest you pay on the loan is tax-deductible2, providing a welcome benefit at tax time
- Many different down payment options and assistance programs are available3
- Some programs have as little as 3% down and up to 100% financing4
- You have long- and short-term options to choose from
3 Income and purchase limits may apply. Please contact your Midwest BankCentre mortgage lender for more details.
4 Additional conditions may apply. Please contact your Midwest BankCentre loan officer for more details.