Special Offers From Mr. Cooper

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

Shop Fixed-Rate Mortgages in Covington, KY

Check the latest interest rates for fixed-rate mortgages in Covington, KY. Contact Mr. Cooper to learn more today.

Busy? Have us call you back. Call Me Back

More Information

Fixed-Rate Loans: What You Need to Know When Buying a Home in Covington, KY

When reading up on mortgages in Covington, you'll come across some terms you may be unfamiliar with. "Fixed-rate" could be one of those terms. As a company that's focused on making your path to homeownership clear and straightforward, Mr. Cooper is here to help demystify all the words and processes that go into buying a house!

What exactly is a fixed-rate loan? It's a mortgage with an interest rate that stays the same. 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 helps you lock-in the security of a consistent rate. Fixed-rate home loans usually have a 30-year term length. Shorter time periods are an option and generally come with bigger monthly payments but lower overall interest paid over the course of the loan's life. So, what other home loan options are there in Covington outside of fixed-rate

Should You Go the Fixed-Rate or Adjustable-Rate Route in Covington, KY

Before committing to a loan, compare all of your options, including adjustable-rate loans. Unlike a fixed-rate loan, the interest rate on an adjustable-rate mortgage (ARM) may change based on national indexes. An adjustable-rate mortgage will maintain the same rate for typically 3, 5, or 10 years, then the rate will change at certain intervals. If the interest rate goes up after your fixed-rate period has ended, your monthly payments could go up too. Call a Mr. Cooper mortgage specialist. Ask about the protections of a fixed-rate loan. We'll help you balance the pros and cons of fixed-rate and adjustable-rate mortgages, and help you see the key factors in picking the one that is right for you, like if you could still pay on an ARM if interest rates went up, how large of a mortgage payment you can qualify for, how long you plan on living in the house, and where interest rates are headed.

Mr. Cooper Knows the Fixed-Rate Home Loan Rates in Covington, KY

We've only brushed the surface of fixed-rate loans and adjustable-rate loans! Contact Mr. Cooper to check fixed-rate mortgage rates in Covington, KY. We have a welcoming team that is here to guide you through the loan and homeownership process.

Covington, KY Mr. Cooper Reviews

Read reviews from actual Mr. Cooper home mortgage customers in Covington, KY.

Overall Rating

out of 5 stars ( customer reviews)

We're here to support you on the path to home ownership.

Let Mr. Cooper help you prequalify for a mortgage and get the keys to your dream home.