Special Offers From Mr. Cooper

Sorry, there are no offers available at this time. Check back soon!

Shop Fixed-Rate Mortgages in Southbury, CT

Compare current mortgage interest rates and talk with Mr. Cooper in Southbury, CT to see if a fixed-rate mortgage is right for you.

Busy? Have us call you back. Call Me Back

More Information

Learn the Basics When Shopping Fixed-Rate Loans in Southbury, CT

When reading up on mortgages in Southbury, you'll see words and phrases you may be unfamiliar with. "Fixed-right" might be one of those words. As a company that's driven to keep the dream of homeownership alive, Mr. Cooper is here to help simplify the steps, paperwork, and terminology that's related to buying a home!

What exactly is a fixed-rate loan? "Fixed-rate" means the interest rate on your mortgage doesn't change. An interest rate is an amount a lender charges for giving you money, and it's expressed as a percentage. Mortgage interest rates can change daily, so a fixed-rate loan means your rate is locked-in and secure. How long does the rate stay the same? Fixed-rate loans typically come with a 30-year length (term). Shorter terms are possible and generally come with bigger monthly payments but lower overall interest paid over the course of the loan's life. How similar is a fixed-rate loan to other Southbury home loan options, like an adjustable-rate loan?

Adjustable-Rate Loans vs. Fixed-Rate Loans in Southbury, CT

Fixed-rate loans are often compared to adjustable-rate loans. An adjustable-rate mortgage (ARM) is different from a fixed-rate mortgage in that the interest rate can go up or down based on national indexes. An adjustable-rate loan will come with a fixed rate for a specific period (like 3, 5, or 10 years), then the rate will change at certain intervals. If your interest rate increases after the fixed-rate timeframe has ended, your monthly payments might increase too. Talk to a Mr. Cooper mortgage professional about the protections a fixed-rate loan can offer. We'll help you understand the factors that can go into choosing between a fixed-rate and adjustable-rate mortgage, like how large of a mortgage payment you qualify for, and if you could still pay your mortgage on an ARM if interest rates went up, how long you plan on living in the house, and where interest rates are headed.

Call Mr. Cooper for Fixed-Rate & Adjustable-Rate Loan Questions in Southbury

Still have questions about adjustable or fixed-rate loans? Contact Mr. Cooper to check fixed-rate mortgage rates in Southbury, CT. We have a welcoming team that is ready to guide you through the loan and homeownership process.

Mr. Cooper Reviews for Southbury, CT

Read real stories from real Mr. Cooper home mortgage customers in Southbury, CT. Then contact us to see what we can do for you.

Overall Rating

out of 5 stars ( customer reviews)

We see home loans differently. We see them through your eyes.

Work with Mr. Cooper to get pre-qualified and get into the home of your dreams.