A fixed rate mortgage has an interest rate that remains the same for the entire term of the loan. If your interest rate is fixed, your monthly payments do not rise or fall.

FHA Mortgage Loan Rates

December 11, 2017
FHA Rates for December 11, 2017
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.




Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Fixed Rate Mortgage

Related Terms: Fixed Rate Home Loan, Fixed Rate Loan
A mortgage where the interest rate remains the same through the term of the loan and fully amortizes is known as a fixed rate mortgage.  Since the interest rate remains constant, monthly payments don’t change. Fixed rate mortgages come with terms of 15 or 30 years.
Fixed Rate Mortgage
Similar to an ARM, fixed rate mortgages come with pros and cons:

  • Even if mortgage rates increase astronomically, your interest rate is locked in and your monthly payments won’t change.
  • Knowing how much you need to put aside for your mortgage payments every month for the next 15/30 years is incredibly helpful when it comes to budgeting for the rest of your expenses.
  • The fixed rates make it easier to shop around for loans, because you can simply calculate your monthly payments and make the best choice.
  • Timing can be your worst enemy when it comes to locking in your fixed rate on a mortgage loan; you may feel you’re getting a low rate at closing time, but a few months down the line the rates may drop further and you feel trapped.
  • If you do choose to refinance, you may end up paying thousands in order to do so, and may ultimately cost you more money.
  • Fixed rate mortgages generally have higher interest rates than ARMs, and if you end up selling or refinancing in the first few years, your interest payments would have been greater.