COASTAL - Fixed Rate Mortgages


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Fixed Rate Mortgages

Fixed Rate Mortgages (FRMs)
A fixed rate mortgage is a loan in which the interest rate is fixed for the life of the loan. Fixed rate mortgage loans usually offer a slightly higher initial interest rate than adjustable rate mortgage loans, but they provide predictable, fixed monthly principal and interest payments. This may make fixed rate loans more attractive to borrowers on a fixed income or to those who prefer not to take the interest rate risk associated with an adjustable rate mortgage.

Why choose a fixed rate mortgage loan?

Predictable, fixed monthly principal and interest payments
No interest rate risk

Coastal Federal Credit Union offers a variety of fixed rate mortgage programs:

10, 15, 20 and 30 year terms are available.
Fixed rate mortgages are offered up to $750,000

For example, a 30 year fixed rate loan of $150,000 with a 20% down payment, an annual interest rate of 6.50%, and an APR of 6.54%, would result in 360 monthly principal and interest payments of $948.10.

Apply Online! »

Or call the Mortgage Service line at 866-252-4896.

Have a Question?

1 (800) 868-4262

ABA/Routing # 253175494

Members' accounts are insured by the National Credit Union Administration (NCUA) up to $100,000 (IRA accounts are insured up to $250,000). Equal Housing Lender. Penalty for early withdrawal from Certificate Accounts. Rates subject to change daily. Terms and Conditions do apply. » indicates a 3rd party link. © 2008 Coastal Federal Credit Union All rights reserved.