If yes, then a fixed rate mortgage is perfect for you. It is one of the most popular types of fixed rate mortgages in which the interest rates stay consistent throughout the life of the loan. Unlike adjustable loan option, where the interest rate fluctuates depending upon the market condition, fixed rate mortgages let you manage your budget without surprises.
At 5Star Lending, we provide a variety of fixed rate mortgages in San Jose, in Silicon Valley, in Bay Area, and in California to meet your needs including
30 Year Fixed Rate, 15 Year Fixed Rate, 10 Year Fixed Rate, and 20 Year Fixed Rate Mortgages: One of the most popular San Jose fixed rate mortgages, they feature rates and payments that will remain consistent in spite of changing market conditions.
Jumbo Mortgage: These mortgage options allow you to finance more expensive properties. They have a higher interest rate as they are guaranteed by private institutions. They also have stringent qualification and documentation.
Use 5Star Lending’s online application process get an idea of what your loan may look like. A fixed rate mortgage can offer you a number of benefits if you need to refinance your home loan with this option. Some benefits include
- Increasing cash flow and net worth
- Consolidating debt
- Lower your interest rates
- Improve your loan
Benefits of Fixed Rate Mortgages
Reduced risks – Even when the current interest rate increases, your interest will remain the same. This feature gives a great advantage to many homeowners. The fixed rate mortgages are best for first time home buyers.
Security–When you opt this mortgage option, you know your interest rate will never increase along with your monthly payments. This gives you the security needed to plan your future.
Consistent monthly payments – The San Jose fixed rate mortgages safeguards from payment surprises in the future. Consistent monthly payments allow you to easily budget your monthly expenses.
Protection during inflation –Inflation erodes the value of the dollar over time. This means payments made during the last 10 years, 15 years, 20 years, of a 30 year loan are significantly lower in real terms than the day you first obtained the loan.
Contact 5Star Lending to find out more about fixed rate mortgages. We also offer free up-front credit approvals and fast on-time closings.