With a fixed rate mortgage, you know exactly what your principal and interest payment will be every month. It won't change because your interest rate won't change.
There is only one instance in which your total payment will change when you have a fixed rate mortgage:
- If you pay your home insurance and real estate taxes through your mortgage, any time there is a change in those costs, there will be a change in that part of your mortgage payment as well.
If interest rates go up, you're protected with a fixed rate mortgage.
Take Control of your Finances and Switch your Adjustable Rate Mortgage to a Fixed Mortgage
Lock in a Low Fixed Rate mortgage rate that will Never Go Up.
Wouldn't you like to count on the same low mortgage payment every month? If the interest rate and the monthly payment on your adjustable-rate mortgage (ARM) haven't gone up yet, it's only a matter of time before they adjust. American Sterling Bank may be able to help.
With an American Sterling Fixed Rate Loan, you could take advantage of today's low mortgage rates and lock in a low, fixed payment now and for the life of the loan.
Apply Now:
- Enjoy the peace of mind knowing your mortgage payment can't increase
- Lock in a low, fixed-rate
- See if you have access to cash from available home equity
- Possibly lower your monthly payments
An American Sterling Fixed Rate Loan may be the right choice if:
- The interest rate on your current loan is higher than what is available now
- The interest rate on your current loan is adjustable and a fixed rate loan is preferred
