This "traditional" type of loan maintains its original interest rate throughout the entire life of the loan. (Any change in monthly loan payments will be due to increases in other charges like insurance or taxes that will naturally occur over time.) Fluctuations in market rates, over the term of your loan, won’t have any impact on the amount of interest you pay because that rate is already "fixed."

For All Fixed Rate Mortgages

For example, a 30-year fixed rate loan for $200,000 with a 6.000% interest rate (6.336% APR) would require 360 monthly principal and interest payments of $1,199.11. Taxes and insurance escrows are not included. Other rates and terms are available. The terms used in this example are for illustrative purposes only and the actual terms you receive may be different depending on your individual circumstances. Loans with longer terms may increase the total number of monthly debt payments, as well as the aggregate amount paid over the mortgage term as compared to loans with shorter terms.

Application fees apply.

Mortgage loans are originated by Space Coast credit Union, and are subject to credit approval, verification and collateral evaluation. Programs, rates, terms and conditions are subject to change without notice. Certain restrictions apply.