Special Offers From Mr. Cooper

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

Compare Fixed Home Loans in South St. Paul, MN

Is a fixed-rate mortgage right for you? Mr. Cooper can help you decide. It's our goal to help you with the whole home-buying process.

Busy? Have us call you back. Call Me Back

More Information

Learn the Basics When Shopping Fixed-Rate Loans in South St. Paul, MN

When reading up on mortgages in South St. Paul, you'll see words and phrases you may not have heard before. "Fixed-right" might be one of those words. As a company that's focused on making your path to homeownership clear and straightforward, Mr. Cooper is on a mission to simplify every aspect of buying a house — including the words!

What exactly is a fixed-rate loan? It's a mortgage with an interest rate that never changes. An interest rate is what the lender charges for loaning you money. It is expressed as a percentage. Home loan interest rates can go up and down in the same day, so a fixed-rate loan helps you lock-in the security of a consistent rate. How long does the rate stay the same? Fixed-rate loans typically come with a 30-year length (term). Shorter timeframes are an option and typically include larger monthly payments but less total interest paid over the loan's lifetime. How do fixed-rate loans compare to other home loan options in South St. Paul?

Should You Go the Fixed-Rate or Adjustable-Rate Route in South St. Paul, MN

It's a good idea to learn about all of your loan options in South St. Paul, including 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. If you get an adjustable-rate loan, you can count on the rate to stay the same for a certain period of time (ex. 3, 5, or 10 years), then the rate is revised at specific 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 see how different factors can guide you in selecting between an adjustable-rate and fixed-rate mortgage, 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.

Check Current Fixed-Rate Home Loan Rates in South St. Paul, MN

There's so much more to learn about fixed-rate and adjustable-rate loans! Give us a call to check the most recent fixed-rate mortgage rates in South St. Paul. We have a welcoming team that is here to guide you through the loan and homeownership process.

South St. Paul, MN Mr. Cooper Reviews

Take it from these happy Mr. Cooper mortgage customers in South St. Paul, MN: We love helping homeowners. Call now to see how we can serve you.

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.