American Fidelity Mortgage Services, Inc.

Fixed Rate loans offer consumers the stability and comfort of having an interest rate which will never change. Having the security of knowing each and every month what your mortgage payment will be makes planning future investments possible. Consumers are able to choose from different types of fixed terms. The following are common terms of fixed rate loans:

30 year Fixed
25 year Fixed
20 year Fixed
15 year Fixed
10 year Fixed

Each program can accomplish different things for different people. For example, the 30 year Fixed rate mortgage offers people a comfortable payment each and every month. Although the interest paid over the 30 years is usually greater, the low payments are comforting. A second popular fixed rate program is the 15 year Fixed rate. This program offers consumers the ability to rapidly reduce the principle balance of their mortgage. Although, the payments can be almost twice as much as the 30 year Fixed mortgage, the interest paid on this loan is significantly less. No matter what fixed rate program chosen, you can be assured that the interest will never change.