Fixed Rate Mortgages

A Fixed Rate Mortgage ensures that your payments will stay the same over the life of the loan. This has the obvious advantage of enabling you to calculate your monthly expenses without worrying about fluctuations in your mortgage payments over time.

Fixed Rate Mortgages are typically available with terms of 10, 15, 20, 25 or 30 years. To calculate mortgage payments (amortization), the loan amount is divided by the number of months in the term, and tax and insurance are added. Payments for 15 and 20 year terms, will be higher than a 30 year loan because they are amortized over a shorter period of time. The shorter this period, the higher the actual payment, but the greater the savings in the amount of interest paid over the life of the loan. For example, a 15 year fixed term will result in paying off your mortgage in 1/2 the time, with huge savings to you in the interest you will pay. This could be an important consideration if you are nearing retirement or have other large expenses to cover, such as your child’s education.
*The Product/Program information contained here is educational only and does not represent actual rates or financing terms.

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Testimonials

  • Being a first time home buyer, I was never out of the loop, everything was easy to understand and when I didn’t there was always someone to ask. I’m Very happy with how this first time experience went and I would recommend Nova to anyone looking to buy a home! Thank you so much.

    Tashina Mattia

    I am a first time buyer & some issues I had to sort out & Nova was there every step of the way. I had a great experience with them & any time I needed information or documents from then it was always responded to quickly. You all are great!

    Stephanie De La Cruz

  • I appreciate the prompt responses, friendliness, and sense of urgency displayed by the group to help the client in every situation.

    Joshua Dean

    Great communication, timely LSU’S, and all paper to title ahead of schedule!

    Guadalupe Jerrells

  • Chris Callen is exceptional. She is so on target, so prompt in her email responses so patient with questions posed, I am deeply impressed. She is just an ace.

    Angela Giron

    I work with a lot of lender’s, You and your staff did a outstanding job to make this transaction go so smooth. Thank You. Kim Gauman

    Sunny Bert

Testimonials

  • Being a first time home buyer, I was never out of the loop, everything was easy to understand and when I didn’t there was always someone to ask. I’m Very happy with how this first time experience went and I would recommend Nova to anyone looking to buy a home! Thank you so much.

    Tashina Mattia

  • I am a first time buyer & some issues I had to sort out & Nova was there every step of the way. I had a great experience with them & any time I needed information or documents from then it was always responded to quickly. You all are great!

    Stephanie De La Cruz

  • I appreciate the prompt responses, friendliness, and sense of urgency displayed by the group to help the client in every situation.

    Joshua Dean

  • Great communication, timely LSU’S, and all paper to title ahead of schedule!

    Guadalupe Jerrells

  • Chris Callen is exceptional. She is so on target, so prompt in her email responses so patient with questions posed, I am deeply impressed. She is just an ace.

    Angela Giron

  • I work with a lot of lender’s, You and your staff did a outstanding job to make this transaction go so smooth. Thank You. Kim Gauman

    Sunny Bert