Fixed-Rate Mortgages
The most popular mortgage structure in America — one rate, one payment, and zero surprises for the life of your loan.
Program Overview
A fixed-rate mortgage locks your interest rate and monthly principal-and-interest payment for the entire loan term. Whether rates go up or down in the market, your rate stays the same. Fixed-rate mortgages are available in 10, 15, 20, 25, and 30-year terms, with 30-year being the most common. They are available through conventional, FHA, VA, USDA, and jumbo programs.
Who Is This Loan For?
- ✓ Borrowers who value payment stability and predictability
- ✓ Buyers planning to stay in the home for 7+ years
- ✓ Risk-averse borrowers who want to lock in today's rate
- ✓ Borrowers in any loan program who prefer a fixed structure
Key Benefits
Payment Stability
Your principal and interest payment never changes — budget with complete confidence.
Protection from Rate Increases
Even if market rates rise, your rate remains locked for the full term.
Multiple Term Options
Choose 10, 15, 20, 25, or 30-year terms to match your financial goals.
Available Across Programs
Fixed-rate options in conventional, FHA, VA, USDA, jumbo, and non-QM.
Qualification at a Glance
General Requirements
- Qualification based on chosen loan program (conventional, FHA, VA, etc.)
- Credit, down payment, and DTI requirements vary by program
- Available for all property and occupancy types
Advantages
- ✓ Predictable payments
- ✓ No rate increase risk
- ✓ Easy to budget
- ✓ Available in all major programs
- ✓ Longer terms mean lower monthly payments
Tradeoffs to Consider
- ↔ Higher initial rate than adjustable-rate options
- ↔ Less savings if rates decline (unless you refinance)
- ↔ 30-year terms pay more total interest than shorter terms
Common Scenarios
Family Buying Forever Home
A family planning to stay in their home for 20+ years locks a 30-year fixed rate for maximum payment stability.
Aggressive Equity Builder
A high-income borrower chooses a 15-year fixed rate, paying off the home faster and saving tens of thousands in interest.
Documents Typically Needed
- Standard documentation for the chosen loan program
Frequently Asked Questions
A 15-year term saves interest but has higher monthly payments. A 30-year term is more affordable monthly but costs more over the life of the loan. Your advisor can model both scenarios.
Broker Disclosure: Scout Financial Group Inc DBA Airus Lending is a licensed mortgage broker (NMLS #2187418) and does not make loans or credit decisions. Airus Lending works with multiple wholesale lenders to help borrowers compare available loan options. Final approval depends on the lender, automated underwriting findings, documentation, state requirements, and overall borrower profile. Not all applicants will qualify.