Fixed-Rate Mortgages
Don’t worry about rising interest rates. Choose a loan that keeps payments steady throughout the life of your loan.
Give yourself the advantage of a traditional mortgage with a fixed rate. With monthly payments that don’t change either.
Amegy Bank offers conventional home loans with an interest rate that remains the same for the entire term. It’s perfect for homeowners wanting a predictable monthly payment. When rates are high, an adjustable-rate loan may be a better deal over the life of the loan because your rate may stay lower.
Benefits you should know about
Advantages
- Enjoy a fixed rate for the life of your loan without rate fluctuations.
- Rest assured that the principal and interest monthly payment won’t change during the loan term.
- Choose from a variety of loan terms up to 30 years.
- Loan decisions are made locally for faster turnarounds and approvals.
Things to think about
Considerations
- Conventional conforming loans are available up to $766,550 in Texas.
- Jumbo Loans are available up to $5,000,000. Ask for details.
- A low rate on a Fixed-Rate Mortgage may be comparable to an Adjustable-Rate Mortgage over the long term.
- Short-term Fixed-Rate Mortgages under 30 years still feature consistent monthly payments.
- A short-term 15-year Fixed-Rate Mortgage offers a lower interest rate.
- You can own your home twice as fast with a 15-year mortgage versus a 30-year loan.
- Private Mortgage Insurance (PMI) may be required for loans with down payments less than 20%.
Keep your rate and your payments steady over time.
Consistent Payments
Fixed-Rate Mortgages are popular among homeowners because the interest rate and monthly payments stay the same over the entire term of the loan, whether it’s 15 or 30 years. That makes for easy budgeting.
Own Your Home Twice as Fast
You’ll pay a bit more every month, but a short-term Fixed-Rate Mortgage can cut in half the amount of time it takes to own your home. Plus, you typically get a lower rate for a 15-year term than a 30-year.
Consult a Mortgage Loan Officer
We’re proud of our history of investing in communities and client relationships. Our residential mortgage team works closely with you to assess your needs and offer the loan that will work for you.
Put 20% Down to Avoid PMI
With a conventional mortgage, you may need to purchase and pay for Private Mortgage Insurance (PMI) if your down payment is below 20% of the sales price. Bottom line? It helps to have 20% down when you buy.
What monthly payment can you expect for your loan?
Use this mortgage calculator to calculate estimated monthly mortgage payments and rate options.
Your estimated monthly payment for a -year fixed-rate loan of at an APR of could be
- Principal and Interest
- Property Tax
- Insurance
- HOA Fees
- PMI
Apply today for your home loan.
It only takes about 15 minutes to apply using this application. Be ready with: Social Security Number and date of birth (borrower and co-borrower), home address and phone number (mailing address if different from home), previous address (if at residence less than 2 years) and gross monthly income.
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