Standard Fixed-Rate Mortgages

Benchmark Bank provides traditional fixed-rate mortgages for qualifying customers. Fixed rate mortgages lock in a fixed payment over a term of either 15 years or 30 years, which offers stability and lower overall risk.

Benefits of Fixed Rate Mortgages

  • fixed-rate-mortgagesLock In a Low Rate: Fixed-rate loans are beneficial when a low rate is found, allowing the borrower to be sure they’ll receive the same low rate both now and in the future.
  • Interest & Prinicipal Stability: While your property taxes and homeowner’s insurance premiums may change, your principal and interest (in other words, your monthly payment) will remain stable for the life of the loan.
  • Risk Minimization: If you plan to live in your home for more than 10 years – or if you simply want to minimize risk – a fixed-rate loan might be your best option.

Traditional Mortgage Requirements

  • Down payment of at least 5-20%
  • Qualifying credit score
  • PMI is required if the borrower places a down payment of less than 20%


Ready to Apply For a Loan? Get in touch with a Benchmark Bank Mortgage Banker today to apply


*Rates, terms, and conditions are subject to change without notice. The actual rate and APR may vary. For adjustable rate mortgages (ARM), after the initial period, rates and payments are based on today’s index plus a margin. Private Mortgage Insurance (PMI) is required on most conventional and ARM loans with less than 20% down payment. Most government loans require a 3.5% down payment. Taxes and insurance may increase payment amounts. all loans are subject to credit review, underwriting guidelines, verification of identity and approval. Borrowers are responsible for fees associated with any payoff of a prior lien. Borrowers are also responsible for closing costs, homeowner’s insurance, taxes, and PMI if applicable. Benchmark Bank is an equal opportunity lender. Member FDIC. Not all loan programs are available in all states for all loan amounts. NMLS # 410770