Holly McNeely

NMLS# 1235847

Loan Officer

Fixed-Rate Mortgages

What is a Fixed-Rate Mortgage?

With a Fixed-Rate Mortgage, the interest rate does not change during the entire term of the loan. Academy Mortgage offers 30-year, 25-year, 20-year, 15-year, and 10-year Fixed-Rate Mortgages.

Comparison of 30-Year Fixed-Rate Mortgages and 15-Year Fixed-Rate Mortgages

30-Year Fixed-Rate Mortgages
  • Amortized over 30 years.
  • Have a higher interest rate than most other programs.
  • Lower monthly payments.
15-Year Fixed-Rate Mortgages
  • Amortized over 15 years.
  • Mortgage is paid off twice as fast.
  • Monthly payments are significantly higher.
  • Amount of interest paid over the life of the loan is considerably lower.

What are the benefits of a Fixed-Rate Mortgage?

Fixed-Rate Mortgages offer the following features:

  • Monthly mortgage payment never changes over the life of the loan.
  • Interest rate is locked and not subject to market fluctuations.
  • There are no associated mortgage indexes, margins, or caps.
  • Stability and certainty.

Who may benefit from a Fixed-Rate Mortgage?

Fixed-Rate Mortgages are ideal for buyers looking for a low-risk mortgage product with a set monthly payment for the duration of the loan.

For more information

Contact your Loan Officer today to see if a Fixed-Rate Mortgage is the right solution for you. We take pride in delivering value and savings to homebuyers across the United States. It would be a pleasure to help.

NMLS# 1235847

State Lic: TX: 1235847;

Corp Lic: TX: 3113;

Figure: 7 TAC §81.200(c) CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.;