Fixed-Rate Mortgages

Home financing that offers the security of a fixed payment for the life of your loan with your choice of loan terms.

Is a fixed-rate mortgage right for me?

If you plan to live in your home for 10 years or more and you prefer a consistent monthly payment, talk to your Merrill Lynch Financial Advisor about fixed-rate mortgages.

The most popular fixed-rate terms are 15 and 30 years.¹ The 15-year mortgage term allows you to pay off your mortgage loan more quickly, with less interest, while the 30-year mortgage term offers lower monthly payments.

Fixed-rate mortgages may be used for the purchase or refinance of your primary residence or second home.

 What are the features of a fixed-rate mortgage?

• 10-, 15-, 20-, 25- and 30-year terms. And, a 40-year fixed-rate mortgage for conforming mortgages (loan amounts up to $417,000).^1,2
• Fixed amortized payments for the life of the loan. 
• No prepayment penalties.  
• Large loan amounts available.⁴ 

• Available for all types of one- to four-unit owner-occupied properties and New York co-ops. 

³Loan amounts over $3 million available on a negotiated basis.