- Home
- Meet the Team
- Log In
- Contact
- Careers
- Search
- Search Results
- Branches & ATMs
- Rates
- Log In
- About MCU
- Join MCU
- Personal Banking
- Lending
- Meet the Team
- Loans
- Home Loans
- Conventional Mortgages
- Jumbo Mortgages
- High-Balance Mortgages
- Family Homes, Co-Ops, and Condos
- Investment Property
- ARMs
- Adam Gonda
- Xiang He Lin
- Sabrina Kilgore
- Omar Osoria
- Michele Palmucci
- Cesarina Pena
- Walter Skowronski
- Shantell Wynn
- Homebuyer Dream Program
- Heroes Home Improvement Loan
- Mortgage Center
- Credit Cards
- Insurance
- Member Resources
- MCU Financials
- Forms and Disclosures
- Privacy Policy
- Automated Telephone Banking
- Order New Checks
- Security & Fraud Alerts
- Privacy Notice
- Scholarship Search
- Schedule an Appointment
Fixed Rate Loan
A loan with a constant interest rate for the life of the loan, providing the borrower with predictable monthly payments.
More Details
A fixed rate loan is a type of loan in which the interest rate remains fixed, or unchanged, over the entire term of the loan. This means that the borrower will have the same monthly payment amount for the entire repayment period, regardless of changes in market interest rates.
Example
If you want the stability and predictability of a fixed monthly payment, and you are concerned about the potential for rising interest rates over the term of your loan, a fixed rate loan could be a great fit for your borrowing needs.
Related Terms
Cashier's Check
A type of check issued by a bank and guaranteed by the bank's funds. It is a safe and reliable form of payment for large transactions.
Account Holder
A member with an active account, entitled to the institution's services and responsible for managing their account and transactions.
Foreclosure
The legal process by which a lender repossesses a property when the borrower fails to make their mortgage payments.