American Mortgage Finance

American Mortgage Finance

Fixed Rate Mortgages

 
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.....American Mortgage Finance:
Fixed Rate Mortgages, Fixed Rate Refinances, FHA Loans, Best Rates

 
 

Call Toll Free:  1-866-503-7334

Fixed Rate Mortgages are the most common type of mortgage program where your monthly payments for interest and principal never change.

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Fixed Rate Mortgages

Fixed rate mortgages are available for 30 years, 20 years, 15 years and even 10 years. There are also bi-weekly mortgages which shorten the loan by calling for half the monthly payment every two weeks. (Since there are 52 weeks in a year you make 26 payments or 13 "months" worth every year.)

Fixed rate fully amortizing loans have two distinct features. First the interest rate remains fixed for the life of the loan. Secondly the payments remain level for the life of the loan and are structured to repay the loan at the end of the loan term. The most common fixed rate loans are 15 year and 30 year mortgages.

During the early amortization period a large percentage of the monthly payment is used for paying the interest. As the loan is paid down more of the monthly payment is applied to principal. A typical 30 year fixed rate mortgage takes 22.5 years of level payments to pay half of the original loan amount.

 

Calculate Fixed Rate Mortgage Payments

Mortgage Loan Calculator
Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments!

Fixed Rate Mortgage vs. Interest Only Mortgage
A fixed rate mortgage has the same payment for the entire term of the loan. Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage.

 

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American Mortgage Finance, Inc.

Toll Free:  1-866-503-REFI

email: info@americanmortgagefinance.net

 

 
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Equal Housing Lender

USDA Rural Development Mortgages

 

*American Mortgage Finance, Inc. may ask you to provide information only for reference. We do not sell private information to outsiders for any other activity.

 

NMLS ID# 18811

FHA Lender ID# 29356 0000-1

VA Lender ID: 089902-00-0

Licensed by the Pennsylvania Dept. of Banking as 21850

 

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