Fixed Rate Mortgages

With a fixed rate mortgage loan, the interest rate and your mortgage monthly payments remain fixed for the period of the loan. Longer term fixed-rate mortgages are available for 40, 30 and 25 years. Generally, a shorter term loan will provide a lower interest rate. The most popular fixed rate mortgage terms are 30 years. With 30-year fixed rate mortgages your monthly payments are lower than they would be on a shorter term loan.

Fixed Rate Mortgage Benefits

  • Stable and predictable monthly payments (Making it easy on your budget and peace of mind).
  • A fixed rate mortgage may be important to you if you expect to live in your home for many years or if interest rates are low.
  • You can choose from various repayment periods, depending on whether you want to pay your loan off faster (and save significant interest costs) or stretch your payments over a longer term for a lower monthly payment.
  • Keep mortgage payments to a minimum while maximizing interest deductions for the income tax purposes

Fixed Rate Mortgage Features

  • Interest rate of a conventional mortgage is fixed for the life of the loan.
  • Monthly payments of principal and interest are the same for the life of the loan.
  • The loan is usually fully amortized {link to Glossary} so it is completely repaid at the end of the loan term.
  • Available for 40, 30 and 25 year repayment periods.
  • Refinance at anytime-without any prepayment penalties 
Besides Fixed Rate Mortgages, NextHome offers a variety of other options: FHA Loans, Lender Paid Mortgage Insurance, Interest Only Mortgages, and My Community Mortgage.
Career-Specific Loan Programs

DoctorsMedical school loans can impact your home purchasing power. We take that into consideration and make it easy to buy your dream home.

NursesOur unique mortgage programs can help Nurses purchase a home even with substantial student loans.

Police & FireOur Police and Firefighter programs help the men and women who protect our lives and homes. Cost effective home ownership is our goal.

TeachersEducating the youth of our country is a big job. We offer special mortgage programs to help Teachers achieve home ownership.

MilitaryOur Military Veterans mortgage programs are designed to cost effectively provide home ownership to those men and women who protect our lives and country.

PharmacistThe costs and challenges of starting a new career in Pharmacy should not prevent you from achieving home ownership. We can help!

PharmacistOur special low or no down payment mortgage programs for Dentists have flexible underwriting that make buying a new home easy.

Learn how NextHome Mortgage makes it easy to get a loan