15-Year Fixed-Rate

• 15-Year Fixed-Rate Mortgage

  Fixed-rate mortgages are Fannie Mae's flagship products, since many consumers prefer the stability of both a fixed interest rate and a fixed payment over the life of the loan.

  Lender Benefits

  • Offer borrowers fixed-rate stability along with a way to build equity faster
    
  • Obtain a consistent secondary marketing outlet
    

  Consumer Benefits

  • Lock in a long-term interest rate with a stable, predictable monthly payment
    
  • Borrowers who want to build equity faster should select the shortest loan term they can afford
    
  • Shorter loan term carries a lower interest rate, helping borrowers to save in interest cost over the life of the loan