With theses type of loans, the interest rate and your mortgage payments remain "fixed" for the period of the loan. They are available at wholesale lending rates to people who qualify. Fixed-rate mortgages are available for 40, 30, 25, 20, 15, and 10 years, with 30 and 15 years being the most popular. Generally the shorter the term of the loan, the lower the interest rate you could get. Your monthly payments are typically lower with a 30-year fixed rate, but 15-year fixed rate mortgages allow you to pay your loan twice as fast and can save you a considerable amount of total interest over the term of the loan.

Middlestead Mortgage can offer some exciting options with a conventional fixed-rate loan.
We can consolidate debt to lower monthly payments, provide second or home equity lines of credit (HELOCs), help the first-time home buyer find their dream home, cover investment properties, and even help purchase a second home. Self-employed borrowers can qualify for the same low rates, provided their credit rating is solid and they have been self-employed for a minimum of two years.