Special Offers From Mr. Cooper

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

Find the Right Fixed-Rate Home Loan in Yakima, WA for You

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

Busy? Have us call you back. Call Me Back

More Information

Are All Fixed-Rate Loans in Yakima, WA the Same?

When searching online for Yakima home loans, you'll see words and phrases you may be unfamiliar with. The phrase "fixed-rate" might fall into that category. As a company that's dedicated to keeping the dream of homeownership alive, 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 never changes. 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. How long does the rate stay the same? Fixed-rate loans typically come with a 30-year length (term). Shorter terms are available and usually 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 Yakima home loan options, like an adjustable-rate loan?

Comparing Adjustable-Rate and Fixed-Rate Loans in Yakima, WA

Fixed-rate loans are often compared to adjustable-rate loans. Adjustable-rate mortgages (ARM) are different from fixed-rate mortgages as the interest rate on an adjustable-rate mortgage can fluctuate based on national indexes. An adjustable-rate mortgage will maintain the same rate for typically 3, 5, or 10 years, then the rate will adjust at particular intervals. If the interest rate goes up after your fixed-rate period has ended, your monthly payments could go up 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 long you plan on living in the house, how large of a mortgage payment you qualify for, and if you could still pay for an ARM if interest rates went up, and where interest rates are headed.

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

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 Yakima. Friendly people are here to guide you through the loan and homeownership process.

Yakima, WA Mr. Cooper Reviews

Read reviews from actual Mr. Cooper home mortgage customers in Yakima, WA.

Overall Rating

out of 5 stars ( customer reviews)

We're changing the face of home loans.

With Mr. Cooper, you can get pre-approved for a mortgage and get into a new home sooner.