What is a fixed-rate mortgage?

A fixed-rate mortgage is exactly that. A mortgage with an interest rate that is fixed and stays the same throughout the term of your loan. It offers you consistency to help make it easier to set up your budget.

With a fixed-rate mortgage, the amount you pay toward the mortgage itself, the part that’s made up of your principal and interest, won’t change. Fixed-rate mortgages are a good choice if you think interest rates will rise and you want to keep the current market rate. In addition, if you see yourself staying in your home for a long time, are on a fixed income, and don’t expect to refinance, a fixed-rate mortgage may be the right option for you.

Home sweet home loan benefits

Low rates, flexible options

Competitive rates, flexible loan programs and down payment options

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Expert advice and guidance

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Homebuyer resources

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Fast and free pre-approvals

Make offers with confidence and get pre-approved upfront

Lock while you shop

Once pre-approved, we’ll honor your rate for 30 days while you shop for a home1

On-time closings

We work fast to meet your closing deadlines on time

Purchase Fixed Rates

Rates Effective 2/2/2023
Loan Program Amount Rate APR2
30-Year Fixed $50,000 to $726,200 5.625% 5.701%
30-Year Fixed (No Closing Costs, 3% Down) $50,000 to $726,200 6.125% 6.174%
20-Year Fixed $50,000 to $726,200 5.250% 5.347%
15-Year Fixed $50,000 to $726,200 5.000% 5.118%
10-Year Fixed $50,000 to $726,200 5.000% 5.169%
30-Year Fixed Jumbo $726,201 to $2,500,000 6.875% 6.950%
15-Year Fixed Jumbo $726,201 to $2,500,000 6.250% 6.361%

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How much home can I afford? (Below, “Monthly child support payments” refers to child support payments made as a monthly expense, not to income from child support.)

Frequently Asked Questions

Connect with a Home Loan Consultant

Buying a home is an important milestone and one of the biggest financial decisions you’ll make. But it can be stressful if you’re unsure of what to expect.

Our Home Loan Consultants will answer all of your questions so you’re well prepared and informed every step of the way.

Whether it’s your first home, a vacation property or an investment purchase, our Home Loan Consultants will meet with you to discuss your plans and goals.

They’re located locally and have a unique understanding of the Bay Area and Sacramento areas.

Take advantage of dealing with a local expert instead of one across the country.

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Whether you're looking to buy your first home or need more space for your growing family, we can help make your home ownership goals a reality.

Home Buying Basics

Learn more through our Financial Wellness library.

1 Lock and Shop program is available for 1st mortgage Jumbo loan purchase transactions only. Must have a home loan application with Patelco to lock in a rate. Patelco will honor your rate up to 30 days from the date it is locked. Once a fully executed purchase contract is received, the rate will prevail until loan funding.

2 APR = Annual Percentage Rate. APRs are based on the following:

  • Conforming: Loan amount of $726,200 + closing costs
  • Jumbo: Loan amount of $1,500,000  + closing costs
  • Mortgage rates shown are based on a 30-day lock for purchase transactions

Rate shown at 60% loan-to-value (LTV), owner-occupied purchase with excellent credit and no subordinate financing. Your rate may be different than what is shown, there are pricing adjustments on certain scenarios. Please use the rate calculator on our mortgage application site to receive a better estimate for your scenario.

3 Closing costs fees include applicable title, escrow and recording cost fees and will appear on the Closing Disclosure. The appraisal and credit report fee will be paid up-front by the member and reimbursed at closing. Hazard Insurance, Taxes, HOA fees, Purchase Owner’s Policy and Transfer Tax are not covered by Patelco. At least one borrower is a first-time home buyer (had no ownership interest in a property in the last three years). Applicable on the purchase of a single family residence and 30 year fixed conforming loans with minimum 740 FICO.

4  WISH program is not available in all counties. Loans subject to credit and collateral approval. Terms and conditions are subject to change. Enrollment in the WISH Program is not a guarantee to the homebuyer of receipt of funds. The grant recipients must sign a Promissory Note, Deed of Trust and Rider to the Deed of Trust and there will be a lien placed against the subject property for the amount of the grant that will remain on the property for five years. The amount owed will decrease by 20% for each year the borrower retains homeownership of the property as their primary residence. No payments toward the grant are due as long as the homebuyer resides in the property and abides by the terms of the grant. After five (5) years, the grant is forgiven, and the lien is released from the property. This is a fixed-rate loan with fixed monthly principal and interest payments for the life of the loan. Loan amounts available up to $726,200 on 1-unit properties. Mortgage insurance is required for loans exceeding 80% LTV. Minimum credit score and reserve requirements apply and may impact the amount that can be borrowed and the interest rate/APR for which you are eligible. Family income must not exceed 80% of the HUD Income Area Limits.

5 Eligible for conforming loan amounts and 95% loan-to-value (LTV) available on 15-and 30-year fixed jumbo mortgages only. Loans over 80% LTV require mortgage insurance (except for 10% down “combo loans” up to $2 million, which are only available in CA).

Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an offer or commitment to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Hazard insurance may be required. NMLS ID Number is 506373.