ACME Mortgage

Fixed-Rate Mortgage

We offer a variety of different fixed-rate mortgages and will work with you to find the terms and schedule that best fit your needs.

What Is A Fixed-Rate Mortgage?

The Fixed-Rate home loan is a mortgage that has a fixed interest rate for the duration of the entire loan. Meaning that the payment for the loan is the same every month until the loan is paid off, and provides a stable choice for homeowners.

Top Four Reasons To Get A Fixed-Rate Mortgage With Loans

Reliable Payments
Direct Lender with Great Interest Rates
No (or Little) Mortgage Insurance
Many Fixed Rate and Down Payment Options

Fixed-Rate Mortgage Requirements

Income

Required income will be based on how large the loan amount you are requesting is and the loan program. Many fixed rate home loan options have generous Debt-to-Income requirements.

Debt

The debt-to Income (DTI) ratio is the primary variable for qualifying for a fixed-rate loan. If your DTI is too high, you will not qualify and may need to choose a smaller loan amount. For more information about how this works, please contact one of our mortgage consultants, and we will be happy to assist you.

Credit Score

You can get better financing options with higher credit scores. Credit scores are important because they show how you have handled debt in the past and indicated if you will pay your mortgage on time. If you have low credit, there are ways you can rebuild it. There are many fixed rate options that go down to a 620 credit score and some that will allow down to a 580 credit score.

Job History

Another critical variable for your qualification is your job history. You will need to show how long you have been working in your current position and what your job history has been to determine your qualification. Generally a lender will look for two years of steady employment, but exceptions apply.

Free Pre-Approvals

If you are shopping for a home, we are happy to “pre-approve” you free of charge, which includes pulling a credit report. Our pre-approval letters are strongly worded and held in very high-regard, giving your offers much more clout in competitive situations. Sellers are leery of accepting proposals when financing is not a sure thing, and no lender offers more comfort to sellers than ACME.

Free Consultations

If you are not ready to buy a home and are just looking for information regarding down payments, monthly payments, credit issues, the overall process, or anything else, we are happy to answer all of your questions. Similarly, if you are thinking about refinancing, we will readily evaluate and share all of your options with you.