A fixed rate mortgage lets you set the interest rate and monthly principal & interest (P&I) payment for the life of your loan. Advantages of a ditech fixed rate mortgage include:

  • A low, fixed interest rate
  • The stability of a fixed monthly P&I payment
  • The option to secure an even lower interest rate with discount points
  • A down payment as low as 5 to 20% of the home’s value (if you are buying a home)
  • No prepayment penalty if you pay your loan off early
  • Flexible loan terms ranging from 10 to 30 years in 5-year increments

A fixed rate mortgage may be right for you if you are refinancing and:

  • You have a high interest rate and want to lower it
  • You have an adjustable rate mortgage and prefer the stability of fixed P&I payments
  • You want to lower your P&I payment or shorten the term of your loan
  • You want to get cash out for home improvements, debt consolidation or college tuition
  • You plan to stay in your home for 7 years or longer

A Home Loan Specialist can help you decide which loan option is right for you.

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