• Simple to understand.
  • Rates and payments don’t change. There won’t be any surprises even if inflation surges out of control and mortgage rates increase significantly.
  • You can budget with more certainty because your mortgage payment – often the largest chunk of expense – doesn’t fluctuate.


  • To refinance, you’ll be out a few thousand dollars in closing costs and some time spent getting documents in order and following the loan process.
  • Can be too expensive for some borrowers, especially in high-rate environments, because there is no early-on payment and rate break.
  • Most fixed-rate mortgages can’t be customized for an individual so there is not much competition among lenders for pricing.

When rates are relatively low, fixed-rate mortgages make more sense. To determine if it is right for you, contact a Skyline loan officer near you.