Fixed-Rate Loans
One rate. For life.
The mortgage that never surprises you. Your rate, and your principal-and-interest payment, is locked from the first payment to the last, whether that's 10 years from now or 30.
Who this is for
Is this your loan?
Buyers planning to stay put, budgeters who hate surprises, and anyone locking a payment while rates are acceptable to them.
Not sure? That's what we're here for. We price every eligible program against this one, so the comparison is done for you.
Why fixed-rate is still the default for a reason
Every other loan on this site is a variation on a theme; this is the theme. A fixed-rate mortgage means the rate you close with is the rate you keep, through rate spikes, inflation cycles, and everything the economy does for the next three decades. Your property taxes and insurance can move, but your principal and interest never do.
That predictability is worth real money in Southern California, where a jumbo-sized payment swing can mean four figures a month. When our clients ask "what happens to my payment if rates go up?", the fixed-rate answer is the shortest one we give: nothing.
The numbers that matter
- Down payment from 3%. The 20%-down rule is a myth. Conventional fixed-rate loans start at 3% down for qualified buyers.
- Refinance up to 97% of your home's value on a rate-and-term refinance.
- Terms of 30, 25, 20, 15, or 10 years. Shorter terms carry lower rates and dramatically less lifetime interest; longer terms minimize the monthly payment. We'll show you both ends of that trade.
- No prepayment games. Pay extra any month you like and shave years off the back of the loan.
30-year vs. 15-year: the honest trade-off
A 15-year term typically gets you a lower rate and can cut your total interest cost by more than half, but the required monthly payment is substantially higher. A popular middle path: take the 30-year for its flexibility and pay it like a 15 when life allows. You keep the option to fall back to the lower payment in a tight month. We'll run all three scenarios with your actual numbers so you're choosing with your eyes open.
Fixed-Rate Loans FAQs
Asked constantly. Answered honestly.
What credit score do I need for a fixed-rate loan?
Conventional fixed-rate loans generally start around a 620 credit score. Pricing improves as scores rise, with the best rates typically at 740+. If you are below the threshold, an FHA fixed-rate loan may work today, or we can map the fastest path to qualifying conventionally.
Is 3% down really possible in Southern California?
Yes. The program allows it, including on typical OC and LA price points within conforming loan limits. Above those limits you are in jumbo territory, where down payments start around 10%. We will tell you exactly which side of the line your target price sits on.
Should I pay points to lower my rate?
Points make sense when you will keep the loan long enough for the monthly savings to repay the upfront cost, usually several years. If you might move or refinance sooner, skip them. We show you the break-even month for any buydown so the decision makes itself.
Can I refinance a fixed-rate loan later?
Absolutely. Locking a fixed rate today does not marry you to it. If rates drop meaningfully, refinancing is straightforward, and we will proactively tell you when the math works. You can refinance a rate; you cannot refinance a missed house.
Fixed-rate or ARM, how do I choose?
Choose fixed if you are staying 7+ years or simply want certainty. Consider an ARM if you are confident you will sell or refinance within its fixed intro period, when its lower starting rate is pure savings. We will price both for you side by side.
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