Fixed-Rate Mortgages

Lock in the financial security of a fixed-rate mortgage

Count on a fixed rate for up to 30 years

Interest rates rise and fall, but you can count on stability with a fixed-rate mortgage loan. When you're ready to buy a home, our expert lending team is here to help—and we know a thing or two about stability. After all, First Citizens has been helping families manage their finances for more than a century.

No surprises

Rest assured that your monthly payment won't change.

Down payment options

Use grants, gifts and other funds for down payment and closing costs.

Easily apply online

Secure your fixed-rate mortgage loan today by applying online.

Lock in your interest rate
Fixed-Rate Mortgage Application Requirements

Qualify for a fixed-rate home loan

Create an account in our online application platform. Here's what you'll need to apply for a fixed-rate mortgage.

  • Social Security number
  • Employer contact information
  • Estimated income, assets and liabilities
  • Details on the property you're interested in mortgaging
Apply now for a fixed-rate mortgage , Opens in a new tab

Fixed-Rate Mortgage Benefits
Fixed-rate mortgage loans are secure, flexible and simple

Financial security

Don't worry about your mortgage payment increasing and breaking your budget.

Locked-in mortgage rate

The interest rate is set in stone on day 1 of your mortgage term.

Pay over the long term

Take up to 30 yearsD to pay off your fixed-rate mortgage loan.

Get assistance

If you're eligible for down payment assistance, you may be able to make a lower lump-sum payment.

How to get started

If you're interested in financing your home with a fixed-rate mortgage loan, you can start the process online.

Step 1

Get pre-qualified

Save time when you get pre-qualified for a fixed-rate mortgage loan. It'll help you estimate how much you can borrow so you can shop for homes with confidence.

Step 2

Connect with a mortgage banker

After you've applied for pre-approval, a mortgage banker will reach out to discuss your options. Feel free to ask anything about the conventional fixed-rate mortgage loan process—your banker is here to be your guide.

Step 3

Apply for a fixed-rate mortgage

Found the house you want to purchase? Then it's time to apply for financing and turn your dream of buying a home into a reality.

Fixed-Rate Mortgage Calculator
Estimate your monthly payment

Use the mortgage payment calculator to see if a fixed-rate mortgage loan is right for you. Try comparing a 15-year fixed-rate mortgage and a 30-year fixed-rate mortgage to see which loan best fits your budget.

Fixed-Rate Mortgage FAQ
People often ask us

A fixed-rate mortgage is a home loan with an interest rate that stays the same throughout the entire term of the loan. This is in contrast to adjustable-rate mortgages, where the interest rate fluctuates based on market conditions.

Fixed-rate mortgages are a good choice for borrowers who want to know what their monthly payment will be each month. The consistency and predictability make fixed-rate mortgages a popular choice for long-term property holders.

Terms for fixed-rate mortgages can range between 15 and 30 years. The vast majority of homebuyers opt for a 30-year fixed-rate mortgage, with the 15-year term being the second-most popular choice.

Mortgage rates fluctuate from day to day based on market conditions such as economic health, employment trends and inflation. Once you lock in your mortgage rate, the fixed-rate mortgage will remain at that rate throughout the life of the loan and will not be subject to daily variations. Your interest rate on a fixed-rate mortgage also depends on a number of personal factors. Examples include your credit score and the loan-to-value ratio, which is impacted by your down payment.

You can use the mortgage payment calculator on this page to estimate your monthly payments on a fixed-rate mortgage. To use the calculator, you'll need to know the home's purchase price, annual property taxes and home insurance costs, and monthly HOA dues. You'll also need to know how long your loan term will be and its interest rate.

Yes. Refinancing a fixed-rate mortgage can help homeowners save money by securing a lower interest rate or shortening the term of their loan.

For example, if you have a 30-year fixed-rate mortgage, you could refinance with a 15-year or 20-year mortgage loan. And although your monthly payments may be higher with a shorter term, you'll build equity and pay off your loan faster, resulting in less interest paid overall.

In other cases, such as when interest rates fall below your fixed rate, refinancing could lead to lower monthly payments.

If you're interested in refinancing your fixed-rate mortgage, talk to a mortgage banker about your options.

Mortgage Insights
A few financial insights for your life

Home

What you need to qualify and apply for a mortgage

This application checklist will show you how to qualify for a mortgage and get you to closing faster.
With a little organization, the mortgage application paperwork isn't nearly as daunting as it seems.
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Homebuyer's glossary of mortgage terminology

This glossary includes definitions for more than 130 terms you'll encounter during the homebuying and mortgage underwriting process.
Learn the terms you'll hear throughout the loan process.
Home

First-time homebuyer's guide: Steps to buying a house

Dreaming of homeownership? Explore the steps involved with buying a house, as well as tips and resources for first-time buyers.
As you navigate the homebuying process, know that there are resources available to help you along the way.

Normal credit approval applies.

Not applicable in all states.

An example of a typical extension of credit is as follows: As of ${date-today} an amount financed of $400,000 at a term of 360 months with an annual percentage rate of 3.875% would result in 360 equal monthly principal and interest payments of $1,880.95.

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