Fixed Rate Mortgages
A fixed-rate mortgage loan is a type of home loan in which the interest rate remains constant throughout the loan term.
One of the main benefits of a fixed-rate mortgage loan is predictability and stability, as you’ll know exactly how much your monthly payments will be over the life of the loan. This can help you budget and plan your finances more effectively, without worrying about fluctuations in interest rates that could cause your monthly payments to increase. Additionally, fixed-rate mortgages are often easier to understand and compare to other mortgage products, making it easier to make informed decisions about your home financing.
Fixed-rate mortgages can provide you with a sense of security and peace of mind, knowing that your interest rate and monthly payments will not change regardless of economic conditions.
The Path to Homeownership: Navigating Your First Home Purchase
Buying a home for the first time is a big step—and one that comes with plenty of questions. At Sturgis Bank, we’re here to make the journey smoother, offering guidance every step of the way. From understanding initial expenses to exploring mortgage options, we’ll help you turn your monthly payment into a smart investment in your future.
Watch The Path to Homeownership below to learn everything you'll want to know before you start your homebuying journey. We're pleased to offer this resource in English and Spanish languages.