When interest rates feel unpredictable, many homeowners start wondering if they should switch from a variable-rate mortgage to a fixed-rate mortgage.

A fixed rate gives you payment stability.
A variable rate gives you flexibility.
There’s no “right” choice — only what works best for your situation.

If you’re curious about switching, here’s a simple, step-by-step guide to how the process works.

Step 1: Contact Your Current Lender

Before anything else, you need to reach out to the lender who holds your mortgage right now.

This step is essential because:

• Each lender has different fixed-rate options
• Some terms are priced better than others
• Your lender controls the rules on how and when you can switch
• Only they can show you the exact fixed rates available to you today

This call gives you the real numbers you need to move forward.

Step 2: Ask Your Lender These Key Questions

When you’re on the phone, make sure to ask:

1. What fixed-rate terms can I switch into?
2. What fixed rates do you have today?
3. Will my monthly payment change?
4. Are there any fees for switching?
5. Do any features change if I switch?
   (prepayments, penalties, portability, etc.)

Write everything down — these details matter.

Step 3: Connect With Our Team to Review Your Options

After you’ve gathered the information from your lender, reach out to our team.

This is where we help you:

• Compare the fixed rates you’re being offered
• Break down the pros and cons
• Look at how each option affects your payment
• Make sure the choice fits your long-term goals
• Confirm you’re not missing any fine print or hidden restrictions

Switching to a fixed rate is a big decision, and we’re here to make sure the move is actually in your best interest — not just something that “sounds good” in the moment.

You don’t have to figure this out alone. We’ve got you.

Step 4: Review the Pros and Cons Before You Lock In

Here’s a simple breakdown to help you think it through:

Pros of Switching to a Fixed Rate

• Predictable payments: No surprises each month.
• Less stress: Rate hikes won’t affect you.
• Stable budgeting: Helpful for families and long-term planning.
• Peace of mind: Great if rate movement stresses you out.

Cons of Switching to a Fixed Rate

• You won’t benefit if rates drop later
• Fixed-rate penalties can be much higher if you break early
• You may lose certain variable-rate flexibilities
• Your payment may be higher depending on the term you choose

Step 5: Decide If Locking In Fits Your Life Right Now

Ask yourself:

• Does rate movement make me nervous?
• Do I want steady payments for budgeting?
• Am I planning to stay in this home for several years?
• Do I want protection from future rate hikes?

If yes → locking in might be smart.

If not → staying variable could be the better move.

Either way, we’ll help you decide with clear, simple math based on your real situation.

Step 6: Tell Your Lender You’re Ready to Lock In

Once you choose a term, your lender will:

• Update your rate
• Adjust your payment
• Send paperwork for you to sign

It’s quick. No appraisal, no re-qualification.

Step 7: Review Your New Terms Carefully

Before signing, double-check:

• Your new rate
• Your new payment
• Your new term length
• Penalty rules
• Prepayment privileges
• Any changes to your mortgage features