A fixed rate mortgage loan is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may float.

Fixed rate mortgages – the name says it all. You get a fixed rate that stays the same for the life of the loan, usually 15 or 30 years. Although your interest rate will be a little higher than with an adjustable rate mortgage,you will know exactly how much you’ll pay per month for a few decades. If you love stability, this loan is probably for you. Also when interest rates are low, this is the loan that lets you cash in for years to come.

Mortgage Pro America ensures you get the best deal on fixed rate mortgage loans in terms of interest rates and other facilities. You can opt for a floating, fixed or a part fixed and part floating rate Loan.

Mortgage Pro America offers fixed rate loan which ensures that the borrower only has to pay fixed equal installments as loan repayment, during the entire loan tenure. Market fluctuations do not affect fixed rate loans, i.e., the interest rate remains the same no matter what the market conditions are. Most of the time, monthly payments made during the initial stages of loan repayment is used to pay out the interest and when payments are made in the later stages of the monthly repayment of the loan, the principal is serviced.

For further queries regarding the change in rate, please call us.