Looking for the security of a fixed rate mortgage for your next purchase or refinance? At Mid America Mortgage, Inc, NMLS #1142067, we offer a variety of fixed rate home loan solutions at some of the most competitive interest rates in the marketplace. Whether you are a first-time home buyer looking to capitalize on a low down payment program such as an FHA, USDA mortgage, or a real estate investor pursuing a long term conventional fixed rate financing strategy, we’re here to help.
How the Conventional Fixed Loans are Unique
With a fixed rate mortgage, a borrower’s note rate will not vary throughout the life of his or her loan. Homeowners also have consistent principal and interest payments through their loan terms. If you would like to speak with one of our mortgage consultants about our various fixed rate financing solutions contact us at (573) 875-1100 today.
What You Get With This Type of Loan
- Conventional, conforming 30, 20, 15, and 10 year fixed rate mortgages
- 30-year and 15-year fixed rate jumbo mortgage programs for loan amounts exceeding areas’ conforming loan limits
- 30-year and 15-year FHA mortgages; popular low money down financing programs
- 30-year fixed rate USDA rural housing loans; solution for lower income borrowers looking to purchase or refinance homes in rural communities
- 30-year and 15 -year VA loans; option for eligible active duty military personnel and veterans
Why Should You Choose a Conventional Fixed Loan?
Those who have found their “forever home" typically choose a fixed rate loan more often than an adjustable. It is always important to look at your future needs to see which type of mortgage is best for you and your plans.
Those who are on a fixed income also favor the fixed rate loan because it does provide the security of the rate being fixed.
Is it true that with a fixed rate loan my payment won’t ever change?
Unfortunately mortgage payments whether they are fixed or adjustable typically will change every year due to increases and decreases of the homeowners insurance and real estate taxes.