Fixed-Rate Mortgage

Fixed Rate Mortgages

Fixed rate mortgages are preferred by people who want to budget a fixed payment each month for the term of the loan.

  • Interest rate and payments stay the same.
  • Allows for easy budgeting and long-term planning.
  • May be right for you if you plan to stay in your home for a long time.
  • Local processing and underwriting for quick turnaround.

Many Fixed Rate Financing Options Available

Fixed rate loans are available in a variety of terms. Tioga State Bank offers programs available to assist you in purchasing your home.

30 year fixed rate mortgage-The 30 year fixed rate mortgage is a more popular choice because it provides lower monthly payments than shorter term fixed rate mortgages.

10, 15 and 20 year fixed rate mortgage- A 10, 15 or 20 year fixed rate mortgage can help you pay off your home faster and build equity more quickly, although your monthly payments will be higher than a 30 year loan. These loans are also more popular for refinancing.


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