What it is
A fixed-rate mortgage keeps the same interest rate for the entire term. Most California homeowners choose a 30-year term; shorter terms, often 15 years, mean paying the loan off over less time.
Who it may suit
Buyers and homeowners who value a predictable monthly payment and plan to stay in their home long term.
Potential advantages
- Principal and interest payment does not change
- Easier long-term budgeting
- Shorter terms can reduce total interest paid over the life of the loan
Important considerations
- Shorter terms carry higher monthly payments
- Starting rates may be higher than some adjustable options
General eligibility factors
- Credit history
- Income and employment
- Down payment and assets
- Debt-to-income ratio
Program guidelines and limits change. Contact Matthew for current requirements — this page is general information, not a commitment to lend.