Looking to buy your first dream home, a second home or just an investment property? You want a mortgage option that offers stability and a fixed payment that won’t give you a shock every month? Pegasus Mortgages has fixed rate mortgages tailored just for you. Apply for a fixed rate mortgage today and get a financial backing to buy your new home.

When to Choose Fixed Rate Mortgage?

Mortgages are generally divided into two major categories, fixed rate mortgages and variable rate mortgages. You might be wondering how fixed rate mortgage can prove to be beneficial for you.

Why choose a fixed rate mortgage? A fixed rate mortgage has a fixed rate for the lifespan of the mortgage; for example, if your mortgage is spanning over 15 or 30 years, during this period the interest rate assigned to you will remain the same, not rising or declining. Having a fixed rate mortgage allows for you to maintain a stable fixed monthly payment and avoid any surprises due to a fluctuation in your monthly budgets.

The financial market is always changing, making for the rates to be unpredictable. If you are in need of a stable rate for your mortgage and cannot cope with fluctuating mortgage rates, than fixed rate mortgage would definitely make a better choice. A fixed rate will be set for the entire life of the mortgage to bring you the convenience in being confident that you won’t face the surprise of a higher rate.