Already on ArticleSlash?

Forgot your password? Sign Up

Fixed Rate Home Mortgage Loan Options


Visitors: 146

Fixed Rate Mortgage Loans
Fixed rate mortgage loans are for consumers who want financial consistency and stability. Your interest rate will not change over the life of the loan, unlike other adjustable mortgage loans that change in accordance with a market index. There are many fixed rate mortgage options available and several of the most common ones are listed below:

1. New Home Loan
Your family has found the perfect home and now it is time to finder a lender. LCD will help you figure out how much you can afford by calculating your debt and other monthly expenses and subtracting them from your gross income. By submitting our quick and easy application, one of our mortgage specialists will be in contact with you to discuss which option is best for you.

2. Refinance Your Current Mortgage
Refinancing allows homeowners to pay off an existing home loan with the proceeds of another loan using the same property as collateral. These loans are often easy to obtain and offer substantial savings to most homeowners by offering a lower rate that will in turn lead to lower monthly payments. Also, if you include debt consolidation, you can save even more money on your monthly bills by disposing of those high interest credit cards, student loans and/or car loans. To find out if you qualify for fixed rate refinancing, simply fill out our online mortgage application or give us a call.

3. Second Mortgage Loans / Home Equity Loans
Second Mortgages (also known as home equity loans) are secured against the same property as your primary mortgage and are based on the amount of equity (the difference between the market value of the property and any outstanding loan balance) you have. For example, if you own a home worth $100,000, and it does not have a lien (a form of security interest placed over real estate to secure the payment of a loan) on it, you may be eligible to take an equity loan at an 80% loan to value ratio (LTV), or $80,000 in cash in exchange for a lien on your home. If you have two properties, you can try to use the equity in both. Your household income could also determine how much money you will qualify for in comparison to the amount of equity you have on your home.

Fixed rate mortgages can be beneficial in many ways and are great for consumers who rely on a fixed income because there are no surprises with the monthly payments. Locking in a fixed rate can offer substantial savings over an adjustable rate mortgage, especially in times when the market index is high. LCD offers a variety of programs for our customers looking for a fixed rate and we offer a variety of loan terms to fit your needs.

We highly suggest you seek the advice of a qualified financial consultant before deciding on a fixed rate mortgage loan. A professional consultant is always available at Loan Choice Direct, so please call us (1-888-523-8523) today to find the best solution for your needs.

You can also apply with our quick and easy application and one of our financial consultants will get in touch with you shortly.

Martin Hayes is a Customer Service Specialist with Loan Choice Direct.

For mortgage refinance help including many more articles like this one, please head over to to receive your free mortgage refinance quote.


Article Source:

Rate this Article: 
A Bamboozling Dilemma - Fixed Rate or Adjustable Rate Mortgage?
Rated 4 / 5
based on 5 votes

Related Articles:

Credit Union Mortgage Options: Fixed Rate vs. Adjustable Rate Mortgages

by: Cina Tucci (July 15, 2011) 
(Finance/Mortgage Refinance)

Mortgage Rate Quote – Do You Need A Fixed Or Interest Only Loan

by: Adrian Whittle (July 18, 2007) 
(Finance/Mortgage Refinance)

Home Loan Rate - Do You Need Fixed-Rate Or Adjustable Type?

by: Ernesto Maitim (September 29, 2008) 
(Finance/Home Equity Loans)

Lowest Fixed Rate Refinance Mortgage Loan Interest Rates

by: FrankW Ellis (January 19, 2007) 
(Real Estate)

Lowest Fixed Rate Refinance Mortgage Loan Rates Online

by: FrankW Ellis (April 09, 2007) 
(Real Estate)

ARM Vs Fixed Rate Mortgage The Advantages and Disadvantages of ARMS and Fixed ..

by: Darin Sewell (July 21, 2008) 
(Finance/Mortgage Refinance)

Lowest 30 Year Fixed Rate Mortgage - Home Equity Loans Online

by: FrankW Ellis (January 11, 2007) 
(Real Estate)

The Difference Between A Fixed Rate Mortgage and A Variable Rate Mortgage

by: Alan Lim (June 03, 2007) 

Adjustable Rate Mortgages - ARM Vs Fixed Rate - What to Consider When Shopping ..

by: Jon Gomenz (July 02, 2008) 
(Finance/Mortgage Refinance)

A Bamboozling Dilemma - Fixed Rate or Adjustable Rate Mortgage?

by: Matt Peters (June 22, 2007) 
(Finance/Mortgage Refinance)