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Foote Capital Mortgage Company

Fixed Rate Loan

The security of a fixed monthly payment for the life of the loan.

A fixed rate mortgage (FRM) guarantees the security of a fixed monthly payment that will never change. The payments on a fixed rate loan are fully amortizing, meaning they are calculated so that at the end of the term the mortgage is paid in full. While the most popular terms are 30 and 15 years, you may also choose a 10, 20 or 25 year term. Instead, you may also have the option to choose any term that is not in 5 year increments, which is typically done to either match the remaining term of a current mortgage when refinancing or to match a major life event such as retirement.

Generally, the lower the term of the loan, the lower the interest rate may be. Most other loan types, such as FHA, VA and others, are available as a fixed rate loan.

Features of this Loan

    • Predictable monthly principal and interest (P&I) payments.
    • Protection from rising interest rates
    • Option to choose a customized loan term (for example, 22 years)

For Borrowers with the Following Consideration Points

    • Have limited or fixed incomes
    • Planning to stay in the home for a long time
    • Need the peace of mind of a stable payment


Contact a Mortgage Advisor online or call us at 717.249.7500.

“ Me and my wife both greatly appreciated the helpfulness and friendly staff at Foote Capital mortgage. Rebecca took the time to explain any kind… ”

Brandon and Erin W. of Shippensburg, PA

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