Fixed-Rate Mortgage Loans
Your home’s foundation should be solid. Your mortgage rate should be too.
Why Choose Fixed-Rate Loans?
When Consistency Matters Most
Understanding the intricacies of mortgage loan options is crucial for making a more informed decision.
- Unchanging, “locked-in” payments that let you accurately forecast and manage your finances without surprises.
- Protection from interest increases, ensuring your mortgage rate remains unchanged even if market rates rise
- Long-term stability that’s ideal for those planning to stay in their homes for extended periods
Exclusive Offer
We’ll Pay for Your Appraisal!
To enhance your refinancing benefits, TVFCU covers the entire cost of your home appraisal fee, resulting in savings of over $600. This offer is applicable under the following conditions:
- Purchase transaction resulting in new money to TVFCU in the amount of $25,000 or greater.
- Refinance of a mortgage with another institution, resulting in new money to TVFCU in the amount of $25,000 or greater.
- Refinance of an existing TVFCU mortgage, resulting in new money to TVFCU in the amount of $25,000 or greater.
- Offer valid as of January 1, 2025, subject to change. Some exclusions apply. Offer valid on portfolio loans only.
How to Get Started
Your Loan Is Just Clicks Away
We make it easy.
- Meet our mortgage team and apply today.
- Call us at 423-634-3600 with any questions or to request more information.
- Start a video call with our local mortgage experts today.
Frequently Asked Questions
Mortgage rates are determined by a combination of broader economic influences, lender-specific factors, and borrower qualifications.
Mortgage interest rate movements are as hard to predict as the stock market and no one can really know for certain whether they’ll go up or down.
If you have a hunch that rates are on an upward trend, then you’ll want to consider locking the rate as soon as you are able. Before you decide to lock, make sure that your loan can close within the lock-in period. It won’t do any good to lock your rate if you can’t close during the rate lock period. If you’re purchasing a home, review your contract for the estimated closing date to help you choose the right rate lock period. If you are refinancing, in most cases, your loan could close within 30 days.
If you think rates might drop while your loan is being processed, take a risk and let your rate “float” instead of locking. After you apply, you can lock in by contacting your Mortgage Originator by telephone.
A 15-year fixed-rate mortgage gives you the ability to own your home free and clear in 15 years. And, while the monthly payments are somewhat higher than a 30-year loan, the interest rate on the 15-year mortgage is usually a little lower, and more important – you’ll pay less than half the total interest cost of the traditional 30-year mortgage.
However, if you can’t afford the higher monthly payment of a 15-year mortgage, don’t feel alone. Many borrowers find the higher payment out of reach and choose a 30-year mortgage. It still makes sense to use a 30-year mortgage for most people.
Calculate Your Rate and Monthly Payment
Embarking on a homeownership journey is a major milestone, and choosing the right mortgage is crucial. These calculators can quickly help you determine the loan type and amount that’s right for you.
View CalculatorsPersonal Banking Solutions
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