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Fixed-Rate Mortgages

Conventional fixed-rate mortgages have a consistent interest rate for their entire term, so your payments will remain predictable for the life of your loan. A fixed-rate mortgage may be right for you, if you prefer to budget a specific payment amount into your monthly expenses.

  • Allows for easy budgeting and long-term planning
  • If interest rates are low, allows you to lock in favorable rates for the long term
  • Provides predictable financing for investment properties
  • Includes jumbo loan financing options

Overview

Conventional fixed-rate mortgages offer home buyers the following benefits:

  • Consistent loan payment amount
  • Easy budgeting and long-term planning
  • Lets borrower lock-in low rates
  • Stable financing for investment property

Recommended For

Conventional fixed-rate mortgages may be right for you if you:

  • Want a consistent monthly payment
  • Don’t expect to relocate, refinance or move in the next few years
  • Are not sure if you’ll see an income increase in the next few years

Terms

Fixed Rate Scenarios

10-year

A 10-year conventional fixed-rate mortgage of $200,000 with a 20% down payment at 3.288% APR with 0 points and a $705 origination fee would result in 120 equal payments of $1,942.78. This payment does not include tax or insurance costs; the total payment obligation may be higher. These are representative examples based upon rates that were effective as of 8/6/14. Rates may change at any time.1

15-year

A 15-year conventional fixed-rate mortgage of $200,000 with a 20% down payment at 3.399% APR with .250 points and a $705 origination fee would result in 180 equal payments of $1,405.34. This payment does not include tax or insurance costs; the total payment obligation may be higher. These are representative examples based upon rates that were effective as of 8/6/14. Rates may change at any time.1

20-year

A 20-year conventional fixed-rate mortgage of $200,000 with a 20% down payment at 4.215% APR with 0 points and a $705 origination fee would result in 240 equal payments of $1,225.17. This payment does not include tax or insurance costs; the total payment obligation may be higher. These are representative examples based upon rates that were effective as of 8/6/14. Rates may change at any time.1

30-year

A 30-year conventional fixed-rate mortgage of $200,000 with a 20% down payment at 4.347% APR with .375 points and a $705 origination fee would result in 360 equal payments of $938.88. This payment does not include tax or insurance costs; the total payment obligation may be higher. These are representative examples based upon rates that were effective as of 8/6/14. Rates may change at any time.1

These examples are not a credit approval or a commitment to lend.

Online Access

Free to all BB&T mortgage clients, online banking provides 24/7 secure access to your mortgage account, along with your other BB&T accounts. With BB&T, your mortgage information is at your fingertips.

Complete Self-Service Tasks

  • Make a payment
  • Set up automatic payments
  • Customize email alerts
  • Update contact information

Get Loan Information at Your Convenience

  • Review loan activity
  • Access loan amortization schedule
  • Evaluate payoff information
  • Review year-end statement

Work with a Local Mortgage Professional


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