Fixed-rate mortgages usually fall into two types: 15-year and 30-year mortgages. The 30-year fixed-rate mortgage helps keep payments low and steady by paying down the loan over an extended time period of 30 years. This mortgage translates into monthly payments that cover principal, or the actual loan, plus interest. Since the interest rate is fixed over the loan’s time period, payments never change. Borrowers with good credit have the option to refinance over the life of the loan, securing a lower interest rate that decreases monthly payments. More Low Fixed Rates and No Closing Costs Refinance Mortgages
Disclaimer
Fixed Rate Mortgage/Adjustable Rate Mortgage Conforming
Rates and fees are quoted on a $200,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio.
Rates are subject to change without notice.
Fixed Rate Mortgage/Adjustable Rate Mortgage Jumbo
Rates and fees are quoted on a $450,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio.
Rates are subject to change without notice.
“Are you searching for a loan amount of more than $417,000?
Please be aware that recent legislation allows lenders to offer conforming loan rates at a higher loan amount limit based on the county the property is located. For details about the new conforming loan limits, click here.
Arkansas
