Fixed-Rate Mortgage

An affordable way to unlock the door to your dream home

Lower fees make for easy, low-stress closings

Here’s how a Fixed-Rate Mortgage could help you bank better:

  • Choose from 10-, 15-, 20- and 30-year mortgages with competitive interest rates
  • A fixed rate means your rate will never increase
  • Underwriting fee of just $600 and no charges for document prep or credit reports mean substantial savings
  • You'll always deal with your neighbors at Coastal because we will never sell your mortgage to a far-off megabank
  • This mortgage is eligible for an annual Loyalty Bonus payout 

Just the Facts 

Coastal Credit Union is your home base.

We’re committed to helping North Carolina residents achieve their dream of owning a home. Want proof? Coastal is the official mortgage partner for the Wake County chapter of Habitat for Humanity, providing millions of dollars in loans for families who move into homes built by the nonprofit group.

We can provide the same great services for you: low interest home loan rates, modest fees and several fixed-rate mortgage options. Choose a longer term if you want lower monthly payments and a shorter one if you want to become debt-free more quickly. Either way, the interest rate will never increase over the course of the loan. And that will help you sleep easier in your new home.

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I was able to buy my first home on my own without using all of my savings.
Margaret H.

Frequently Asked Questions

With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change.

If everything seems to be in good standing on your application, you will be able to obtain a pre-qualification letter. Although it is not necessary to be pre-qualified, it is highly recommended before making an offer. It demonstrates to both you and to sellers how much house you can afford. It can be frustrating for both buyers and sellers to agree upon an offer, only to find out the buyer is unable to qualify for it.

Pre-qualification is based solely on the data you give in your loan application. From this information, your lender can provide a ballpark estimate of how much you can borrow, but your pre-qualified amount isn’t yet a definite thing. Pre-approval is a commitment in writing for an exact loan amount, after your lender has taken a closer look at, and verified, your financial situation and history.

There is no simple formula to determine the type of mortgage that is best for you. This choice depends on several factors, including your current financial picture and how long you intend to keep your house. Coastal Credit Union can help you evaluate your choices and help you make the most appropriate decision.

As a first-time buyer, the first step in purchasing a home is to determine what exactly you can afford. By using one of the several calculators on our website, you will be able to figure out affordability in relation to finances, credit score and other information.

For a $250,000 loan for a term of 30 years with a 4.50% APR, the monthly payment is $1,267.00.  Taxes and insurance are not included in this payment example and that the actual payment obligation could be greater.  All loans are subject to approval.

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