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Fixed Rate conventional mortgages have a fixed interest rate for the entire term of the loan, meaning your monthly payment will always be the same for the life of the loan. BB&T offers both conventional fixed rate loans with terms up to 30 years, as well as 5/25 and 7/23 short-term loans. |
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Fixed Rate Mortgages
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Conventional Fixed Rate |
5/25 and 7/23 |
| Interest Rates |
Fixed |
Fixed |
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Loan Terms |
- 10 years
- 15 years
- 20 years
- 30 years
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- Loan terms are 5 or 7 years
- Payments are based on a 30 year schedule
- Remaining balance at the end of the 5 or 7 year term may be paid by either selling the
home or refinancing, or
- For qualified borrowers, an extension option is available for the remaining term of the loan
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| Benefits
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- Allows for easy budgeting and long term planning
- If interest rates are low, you can lock in a favorable rate for the long term
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- Lower monthly payment for the 5 or 7 year term
- Increases your buying power
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May be right for you if...
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- You need to budget a fixed payment amount into your monthly expenses
- You're financing an investment property
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- You're looking for lower payments in the short term
- You expect your income to increase in the future
- You're planning on moving within 5 to 7 years
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* A 30-year conventional Fixed Rate Mortgage of $200,000 with a 20% down payment at 6.906% APR with 0 points and 1% origination fee would result in 360 payments of $1,297.20. A 30-year 5/1 Adjustable Rate Mortgage (ARM) of $200,000 with a 20% down payment at 6.526% APR with 0 points and 1% origination fee would result in 360 payments of $1,247.74. APR may increase after consummation. |
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Copyright © 2008, Branch Banking and Trust Company. All Rights Reserved.
BB&T Complete Client Protection
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Branch Banking and Trust Company is a Member FDIC and an Equal Housing Lender. 
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Branch Banking and Trust Company is member FDIC. An Equal Housing Lender.
Subject to Credit Approval.
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