Lock in a low rate and payment that remains constant, no matter how much mortgage rates fluctuate, and choose a term of 30, 25, 20, 15 or 10 years. If you plan to keep your home for a long time and you would like to minimize your monthly payment, a 30-year fixed-rate loan might be your best option. Or, if your goal is to reduce the total interest you pay over the life of the loan, and you can afford a slightly higher monthly payment, lower terms such as 15 or 10 years can reduce interest significantly over the life of your loan.

It’s hard to beat the safety and security of a fixed rate loan and with historically low rates, there is no better time to lock-in the future of your most valuable asset!