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Fixed-Rate Mortgage & Rates

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Predictable monthly payments

A fixed-rate mortgage offers you consistency that can help make it easier for you to set a budget. Your mortgage interest rate, and your total monthly payment of principal and interest, will stay the same for the entire term of the loan.

Fixed-rate mortgages are a good choice if you:

  • Think interest rates could rise in the next few years and you want to keep the current rate
  • Plan to stay in your home for many years
  • Prefer the stability of a fixed principal and interest payment that doesn’t change

Today's competitive rates for fixed-rate mortgages

Rates based on a $200,000 loan in ZIP code 95464

$60,000 - $2.5 million

5% or more of purchase price

Mortgage Rates Table

30-year fixed popup

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

20-year fixed popup

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

15-year fixed popup

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

Mortgage rates valid as of and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5y/6m ARM, 7 years for a 7y/6m ARM and 10 years for a 10y/6m ARM; the 6m shows that the interest rate is subject to adjustment once every six months thereafter). Select the About ARM rates link for important information, including estimated payments and rate adjustments

Rates based on a $200,000 loan in ZIP code 95464

$60,000 - $2.5 million

5% or more of purchase price

Mortgage Rates Table

 

30-year fixed popup

20-year fixed popup

15-year fixed popup

30 Year Fixed X.XXX%

20 Year Fixed X.XXX%

15 Year Fixed X.XXX%

30 Year Fixed X.XXX%

20 Year Fixed X.XXX%

15 Year Fixed X.XXX%

30 Year Fixed X.XXX

20 Year Fixed X.XXX

15 Year Fixed X.XXX

30 Year Fixed $XXXX

20 Year Fixed $XXXX

15 Year Fixed $XXXX

Mortgage rates valid as of and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5y/6m ARM, 7 years for a 7y/6m ARM and 10 years for a 10y/6m ARM; the 6m shows that the interest rate is subject to adjustment once every six months thereafter). Select the About ARM rates link for important information, including estimated payments and rate adjustments

Rate

The rate of interest on a loan, expressed as a percentage.

Annual percentage yield (APR)

The annual cost of a loan to a borrower. Like an interest rate, an APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees (such as mortgage insurance, most closing costs, points and loan origination fees) to reflect the total cost of the loan.

Points

An amount paid to the lender, typically at closing, in order to lower the interest rate. Also known as mortgage points or discount points. One point equals one percent of the loan amount (for example, 2 points on a $100,000 mortgage would equal $2,000).

Monthly Payment (estimated)

The estimated monthly payment includes principal, interest and any required mortgage insurance (for borrowers with less than a 20% down payment). The payment displayed does not include amounts for hazard insurance or property taxes which will result in a higher actual monthly payment. If you have an adjustable-rate loan, your monthly payment may change once every six months (after the initial period) based on any increase or decrease in the Secured Overnight Financing Rate (SOFR) index, published daily by the New York Fed. Note: Bank of America is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by Bank of America.

Fixed-rate mortgage

A home loan with an interest rate that remains the same for the entire term of the loan.

Adjustable-rate mortgage (ARM)

Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Treasury-Index (T-Bill) or the Secured Overnight Financing Rate (SOFR) published daily by the New York Fed. Bank of America ARMs generally use SOFR as the basis for ARM interest rate adjustments. Note: Bank of America is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by Bank of America.


Your monthly payment may fluctuate as the result of any interest rate changes, and a lender may charge a lower interest rate for an initial portion of the loan term. Most ARMs have a rate cap that limits the amount of interest rate change allowed during both the adjustment period (the time between interest rate recalculations) and the life of the loan.

We need additional information

In order to provide you with the best possible rate estimate, we need some additional information. Please contact us in order to discuss the specifics of your mortgage needs with one of our home loan specialists.

We offer a wide range of loan options beyond the scope of this calculator, which is designed to provide results for the most popular loan scenarios. If you have flexible options, try lowering your purchase price, changing your down payment amount or entering a different ZIP code.

Other types of mortgages

Adjustable-rate mortgages (ARMs)

  • Interest rate may change periodically during the loan term

  • Your monthly payment may increase or decrease based on interest rate changes

Jumbo Loans

  • For borrowers needing higher loan amounts

  • Available for primary residences, second or vacation homes and investment properties

FHA & VA loans

  • Government loans from the Federal Housing Administration adatext and the U.S. Department of Veterans Affairs adatext

  • Low down payment options with flexible credit and income guidelines

Affordable Loan Solution® mortgage

  • Down payments as low as 3% adatext

  • For modest-income borrowers

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