10-Year Fixed Rate Mortgages

A faster way to pay off your home and save!

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Key Benefits of 10-year Fixed Rate Mortgage

A 10-year fixed rate mortgage is a home loan that maintains the same interest rate and monthly principal-and-interest payments over the life of the loan, in this case, ten years.

Fixed rate mortgages come in a variety of lengths, also known as terms. The most common fixed rate mortgage terms are 30 years and 15 years. A 10-year mortgage is paid off over a relatively short period of time, compared to these standard mortgages.

With a 10-year fixed rate mortgage, home buyers not only can pay off their debt sooner, they will also pay less interest *** on the money they borrow. Ten-year loans generally have lower interest rates than longer-term mortgages, plus the interest accrues over a shorter period of time. This can save home buyers thousands of dollars in interest. With a shorter term mortgage, homeowners can also build equity in their home much faster.

Why Bethpage

Largest Credit Union in the Northeast - icon

Bethpage is one of the Largest Credit Unions in the Country

over 75 years - icon

We’ve been Servicing members for over 75 years

Everyone can bank at Bethpage

No matter where you live, everyone can bank at Bethpage.[1]

Why Choose a 10-Year Fixed Rate Mortgage?

Save on interest costs over the life of your loan?

With this low rate and short term, you can reduce the number of payments you make, and save thousands in interest over the life of the loan.

Pay off your debts faster?

Consolidate your current mortgage, credit cards, or other loans into one monthly payment with a lower rate.

Not only will you be able to pay off your mortgage sooner, you’ll pay less interest on the money you borrow.

  • Use for purchase or refinance

  • Lock in a fixed mortgage payment

  • Build equity faster

  • Consolidate debt

Questions & answers about 10-Year Fixed Rate Mortgages

What are the benefits of a 10-year mortgage?

With a 10-year Fixed Rate Mortgage, you can get a lower rate compared to longer-term mortgages, shorten the term of your existing loan, build equity in your home faster, and save thousands in interest. All of these benefits can help you to consolidate debt, fund a major purchase, like a home improvement or college, or plan for retirement.

How will I know if I can afford the monthly payment of a 10-year mortgage?

A Mortgage Loan Officer will review your monthly income to ensure the 10-year mortgage payment is within qualifying guidelines.

Who is Bethpage Federal Credit Union?

One of the largest Credit Union in the country, serving members for over 75 years.

What's the difference between a Credit Union and a Bank?

Everyday, more and more people are discovering the Credit Union difference from big banks. Bethpage is far superior to banks because we operate solely for the benefit of our member-owners, not shareholders.

What is a 10-year fixed-rate mortgage?

A 10-year fixed rate mortgage is a home loan that maintains the same interest rate and monthly principal-and-interest payments over the life of the loan, in this case, ten years.

How to pay off fixed rate mortgages early?

Just as with making extra payments, paying more than the minimum each month can give homeowners significant savings on interest, shorten their repayment time and build equity faster.

How much deposit is required for a fixed rate mortgage?

Conventional mortgages (not federally insured) usually require a minimum down payment of 5%, a credit score of at least 660, steady income for at least the past two years, and a debt-to-income ratio (total debt divided by gross income) of 50 percent or less.