Family moving into their new home

Fixed Rate Mortgage

What is a Fixed Rate Mortgage?

A fixed rate mortgage is a loan that has a monthly payment that stays the same, or is “fixed”, for the entire life of the loan. There are a number of amortization periods borrowers can chose from with a fixed rate mortgage. Amortization is the period of time over which the loan payments are spread for repayment of the principal. You can chose to spread your payments over 10, 15, 20 or 30 years. Typically, the longer the amortization period, the smaller the payment, making the 30 year fixed-rate mortgage more attractive to borrowers than the 15 (for example), because the monthly payments are lower. However, there is a trade-off, because the shorter the amortization period, the less interest the borrower pays over the life of the loan.


Fixed Rate Mortgage options we offer

  • 10 year fixed rate mortgage
    Has a fixed rate for the life of the loan (10 years)

  • 15 year fixed rate mortgage
    Has a fixed rate for the life of the loan (15 years)

  • 20 year fixed rate mortgage
    Has a fixed rate for the life of the loan (20 years)

  • 30 year fixed rate mortgage
    Has a fixed rate for the life of the loan (30 years)

Benefits of a fixed rate mortgage

The benefit of a fixed rate mortgage is not having to worry about fluctuating interest rates over time. This makes fixed rate mortgages great for anyone who likes a set monthly payment to fit into their budget. In contrast, an Adjustable rate mortgage, may have a lower initial monthly payment, but may rise over time if interest rates were to rise. Learn more about adjustable rate mortgages so you can make an informed decision in selecting the right mortgage for you. You can also make an appointment with a Mortgage Loan Officer who can provide you the guidance you may need to finance your home.




Get started online

Apply or get pre-qualified for an any of our Fixed Rate Mortgage options by clicking the buttons below.

Apply now for a mortgage

Get prequalified for a Fixed-rate Mortgage

Have questions?

Call us at (877) 820-2265 to schedule an appointment with a Mortgage Loan Officer or fill out the contact form below and we will have one of our Loan Officers reach out to answer any questions you have.



Disclosures and borrower information
Macatawa Bank's primary lending area is West Michigan. Online applications will be considered received on today’s business day if submitted during the course of the bank’s normal business hours;
9am EST – 5pm EST Monday – Friday, excluding Federal Holidays
9am EST – 12pm EST on Saturdays
Applications received outside of this timeframe, including Federal Holidays and Sundays will be considered received the next business day.

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