The interest rate on a Fixed-Rate Mortgage stays the same throughout the life of the loan. This means that your monthly mortgage payment stays the same each month. For home buyers who plan to stay in a home for at least ten years, this mortgage option is a secure way to make sure payments don’t become unaffordable. At the beginning of the loan, most of the payment goes towards interest – at the end most of it goes towards principal. While the interest rate doesn’t change, the property taxes and homeowner’s insurance may get marginally higher. The most common fixed-rate mortgages are 15-year and 30-year loans. At Hawk Mortgage Group, we’ll find the best rate for your needs. We will advise and consult you on the path that will lead to your goals.
725 N. Hickory Avenue; Suite 200
Bel Air, MD
Office : 443-619-7900