Fixed Rate Loans

Contact our office to learn more about Fixed Rate Loan

For borrowers that plan to stay in their homes for a long time, Bank of England Mortgage offers several fixed rate mortgage options—including 10, 15, 20, and 30 year programs.

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They are ideal for you if you are looking to build equity, through the purchase of a stable, traditional mortgage. Our loan team can develop a comprehensive spreadsheet that illustrates the difference in payments among the fixed-rate mortgage options. They will be discussed with the consumer to help determine the choice that best meets their needs.

30-Year Fixed
This option offers the benefit of the most stability. Many consumers select this option because it offers a consistent payment, that will never change. However, the interest rate is higher than shorter fixed-rate options. However, because payments are amortized over a longer time period, monthly payments are lower.

20-, 15-, and 10-Year Fixed
Borrowers that elect to purchase fixed-rate mortgages of a shorter duration, such as a 20-, 15-, or 10-year fixed-rate mortgage programs, pay higher monthly payments, but the interest rate is lower on these mortgages than on 30 -year mortgages

Rest assured, a Bank of England Mortgage loan specialist will walk you through the options and help you select the mortgage that fits your needs.


Contact us today at (225) 939-9878 to get started or start an application today.