Fixed-Rate Mortgage: Your Best Home Loan Option?

A fixed-rate mortgage guarantees your monthly payments remain stable over the life of the loan. This puts you in control of your budget, helping eliminate surprises brought on by fluctuating interest rates. Sound enticing?

Scroll down to learn more about a fixed-rate mortgage or talk to an expert, utilize our easy loan wizard to explore rates and payments or get approved now.

The Good Stuff

Here are the top perks you may expect if you select a fixed-rate mortgage as your home loan choice.

No Surprises

Even though the housing market carries some element of unpredictability, your interest rates do not have to. Should interest rates spike, a fixed-rate mortgage means your rate is stable. If only everything in life was this predictable. See today's fixed rates now.

Budgeting Made Easy

With fixed rates come fixed payments allowing you to easily budget for your home payment. They're great for first time homebuyers used to budgeting for set monthly rent payments, because they minimize confusion and stress from monthly bills.

Help For The Cash Strapped

If you don't have a lot of cash to put down on your home, a fixed-rate mortgage allows you to purchase a new abode for very little down. Also, sellers, builders and others can pitch in and help cover some of the closing costs – another perk of this home loan.

Flexibility In Terms

Don't let the word "fixed" scare you. With M&T Bank's MyTerms loan, you choose the term of your loan. Want to retire mortgage-free in 17 years? You can set the repayment term of your loan to match your goals.

Inflation Insulation

When inflation rises, rates typically follow. Locking into a fixed rate can give you a hedge against future inflation and help fortify your investment portfolio by protecting what will likely be your biggest investment of all.

The Nuts And Bolts

While your mortgage payment and interest rate will not change, there could be other factors to consider that determine your total monthly payment such as property taxes and insurance if you have an escrow account.
You can purchase a new home with as little as 3% down.
You can refinance up to 95% of your primary home's value.
Cash out refinance is permitted.
You may get a fixed-rate mortgage for up to $453,100. Have larger needs? Check out our super-conforming and jumbo mortgage options.
Credit a consideration? No problem – credit scores as low as 620 may qualify.
Sellers can help too! Up to 9% of seller contributions are allowed toward closing costs.

More Details And Specifics

Fixed-Rate Mortgages can be used to purchase or refinance a primary residence, second home or investment property.
Eligible properties include Single Family Residences, Planned Unit Developments (PUDs), Condos and Multi-Family (2-4) Units.

A Few Extras

You have multiple mortgage insurance options for loans with less than 20% down payment or equity.
Want to tie things up quickly? Pay off your mortgage at any time without prepayment penalties.

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Fixed-Rate Mortgage: Settle Down With A Steady Rate