Find out if Fixed-Rate Mortgage Loan is the right loan for you

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Conventional “Adjustable Rate” Mortgage

Fixed-Rate Mortgage Loans

Conventional “Adjustable Rate” Mortgage

Fixed-rate mortgages have interest rates that are fixed, and do not change over the life of the loan. Since the interest rate is fixed, the monthly principal and interest payment is the same each month, and the loan pays off in full by the end of the term. The most common loan terms (length of loan) are for 15, 20 or 30 years long.

A “conventional” fixed-rate mortgage means any commonly available fixed-rate mortgage that is not issued or guaranteed by the federal government.

Home Renovation projects can be financed and provide a great return on your investment. Not only you could be adding equity to your home but you will have many options to remodel your home. Whether it is fixed rate mortgage, fha 203k loan, cash outs or personal loans. Check the appropriate home remodel loans for your situation and let Kukun match you with the right loan and right lender.


  • Monthly principal and interest payments are the same each month thus making expense planning and budgeting easier.
  • Interest rates and loan terms are considered good.
  • The fixed-rate loan term can be as long as 30 years which spreads the repayment of the loan over a longer time frame making monthly payments more affordable.
  • Loan pays off in full by the end of the term – no balloon payment at end.
  • Usually no prepayment fees or penalties.
  • Fixed-rate mortgages are readily available from many sources in the market (i.e. Banks, Mortgage Companies, Savings & Loans, Credit Unions).


  • Require good borrower qualifications – good credit, steady income and larger down payment/ more equity.
  • Requires full principal and interest payments monthly.
  • Requires larger equity percentage if borrower want to access equity via a Cash-out Refinance -limited to 80% of the value of the property less existing liens.
  • Requires full loan application, borrower documentation and appraisal, and may take 30-45 days to obtain funds.
  • Up front closing cost and fees are higher than similar government loans.
  • Can not be used on properties currently under construction.

Terms, conditions, and state restrictions apply. See for details. SoFi loans are originated by SoFi Lending Corp., Licensed by the Departament of Business Oversight under the California Financing Law License. *