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Fixed Term Loans

The new standard in mortgage lending is really the old standard.

A fixed rate loan offers home owners long-term stability and predictable payments, and has become the favorite choice of most borrowers. When you choose a 15 or 30 year fixed rate loan with Bay Equity, your payment will not change the entire time, which allows you budget your mortgage payment throughout your life, or at least the next 10-30 years of it.

What are the benefits of a fixed mortgage?

  • Your monthly mortgage payment will stay the same throughout the life of the loan
  • No prepayment penalties if you refinance or sell
  • Nearly all Government and Conventional loan programs offer a fixed rate term

Standard Fixed Rate Terms: 10, 15, 20 or 30 years

By choosing a lower fixed rate period, you can realize significant savings in total life of loan interest. You pay off the home loan faster than a traditional 30 year loan, and best of all the interest rate is lower. A Bay Equity Loan Officer can help you look into the future and realize the lifelong benefit of a shorter term benefit. With a simple monthly and total term loan comparison, you can see that a lower fixed rate loan might just be the right move for you and your family.

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