Home
Ask Kate
Best Rate Blog
Compare Rates
Locking Rates
Lender Directory
Mortgage Leads
Free Calculator
Refinance Info
Home Buying
PMI Solutions
Turbo Tips
Loan Programs
Meet Kate
My Story
Credit Matters
Loan Modification
FHA Improved
Reverse Mortgage
Compare Lenders
Breaking News
1001 Answers
Free Blog Widget
Kate's Ballyhoo

XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Add to Newsgator
Subscribe with Bloglines

Cheapest Fixed Rate Mortgages
For A Lower Payment

If the cheapest fixed rate mortgages will save you money, why pay for more?

Take this challenge...count on one hand the homeowners you've known to pay off a mortgage.

Choose A Lower Mortgage Payment Instead

For over 20 years, my mortgage clients returned to me for their refinances or because they bought new homes. The 2nd or 3rd time, I usually inquired whether they wanted to continue on the route of a 30 year fixed rate.

"Do you realize the average homeowner gets a new mortgage every 5 to 7 years? You also seem to support those statistics. Why are you choosing to pay for a long-term mortgage if you're only keeping it a few years?" I'd ask.

Adjustable Fixed Rate Mortgage - The True Hybrid

During my mortgage career, I observed fear of unstable adjustable rates cause many homeowners to take refuge in the safety of a 30 year fixed rate mortgage, even when long term interest rates made a monthly payment too high to afford. Seldom was their mortgage kept long enough to benefit from the expense of long term security.

If this sounds like you today, listen closely because I have a solution. I am going to give you the money saving secret I shared with my clients before retiring from 20 years of mortgage lending. Here is how to get a lower mortgage payment.

Consider one of the cheapest fixed rate mortgages, a hybrid. You may have heard of them, a 3/1, 5/1 or 7/1 mortgage. Hybrids combine the best features of both an adjustable and fixed rate mortgage. Some lenders call them fixed rates. Others refer to them as adjustable rates.

What's more important is for you to understand what to expect from them. Then you can decide if a hybrid mortgage will save you money.

Hybrid Mortgages Save Money And Offer Security


Tip: You can also use this toolbar to search. Enter your subject and you'll be instantly guided to the information you're seeking.

Custom Search

30 year fixed rate mortgages potentially tie up a lender's pocketbook for many years. That's why mortgage companies generally charge more for long term fixed rates. Since most homeowners keep a mortgage 5 to 7 years, why should they overpay for a long term mortgage?

Why not opt for one of the cheapest fixed rate mortgages like a 5/1? The "5" means the interest rate and the payment are fixed for 5 years. The "1" means after 5 years, the interest rate and the payment will both be set for a year at a time.

For a little more security, consider a 7/1 which extends the fixed period an additional 2 years. For those who anticipate selling their home or refinancing after 3 years, there is even a 3/1. Generally the shorter the fixed period, the lower the interest rate.

By exchanging an extended fixed rate term for a hybrid mortgage, lenders pass on a lower interest rate to borrowers. Homeowners benefit from a lower mortgage payment.

What a deal!

Lowest And Cheapest Fixed Rate Mortgages

So if you are refinancing or buying your next home, consider one of the cheapest fixed rate mortgages. Don't pay for more than you need. Secure your best mortgage rate and enjoy a lower mortgage payment.

After all, it's your mortgage and your home. You deserve the best!

  • Print this Page

Go ahead and bookmark Cheapest Fixed Rate Mortgages using the easy buttons found at the bottom of this page. This way you can watch for upcoming tips from Kate covering other important adjustable fixed rate mortgage features.

Kate's Best Mortgage Rate Blog is here. Keep up to date on what's new about mortgages and additional tips to cheapest fixed rate mortgages.

Don't Miss A Word of This - More Unique Mortgage Tips From Kate Ford

Best Fixed Rate Mortgage

30 Year Fixed Rate Mortgage

15 Year Fixed Rate Mortgage

25 Year Fixed Rate Mortgage

20 Year Fixed Rate Mortgage

40 Year Fixed Rate Mortgage

Fixed Rate Interest Only Mortgages

Adjustable Mortgage Rates

Adjustable Rate Mortgage

Adjustable Rate Home Mortgage Search

Save Money - Compare Mortgage Interest Rates

Easy Home Mortgage Payment Calculator

Daily Mortgage Rates - Easy To Read Chart

Kate's Mortgage Rate Lock Guarantee

HOME TO Best Mortgage Rate

TOP OF Cheapest Fixed Rate Mortgages


Tip: You can also use this toolbar to search. Enter your subject and you'll be instantly guided to the information you're seeking.

Custom Search


Page copy protected against web site content infringement by Copyscape


footer for cheapest fixed rate mortgages page