How We Get Paid

We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. We are a wholesale broker, meaning we have access to rates our mortgage lenders offer solely to brokers they work with. Generally, our lenders pay us and incorporate the cost of our services as part of the final interest rate on your loan, or in your loan amount. This is common practice in mortgage transactions where you choose for the lender to pay your broker’s fee upfront. If you would prefer to minimize your rate, you may opt to buy "points" to decrease your rate, or pay our broker compensation yourself. Please talk to one of our licensed loan officers to explore your options.

10 Year Fixed Mortgage Rates

See current mortgage rates from some of the top lenders. Compare rates and product features instantly.

Compare rates from our lenders

How it works

Find the right mortgage for you

Find My Rate

Checking rates won’t affect credit score

  1. Get pre-approved:

    With Credible, it only takes 3 minutes to see if you qualify for an instant streamlined pre-approval letter and personalized rates, without affecting your credit score.

  2. Compare lenders and choose rate:

    Homebuyers can compare current mortgage rates and loan features from multiple lenders to choose your home loan. Our team of licensed mortgage loan officers is available to answer any questions.

  3. Submit your documents:

    Credible's automated document collection process takes the stress out of applying for a mortgage. You’ll find it’s easy to track your loan all the way through closing.

  4. Finish your loan with us:

    With Credible, you can complete the whole mortgage process online. We have a team of dedicated mortgage experts ready to help you if you need it.


What is a 10-year fixed-rate mortgage?

With a 10-year fixed-rate mortgage, you get a home loan that lasts 10 years, with an interest rate and payment that remains the same throughout the loan. These mortgages tend to come with lower interest rates as well. This translates to lower costs over the life of the loan and allows you to get out of debt much faster.

Check Out: 

Today’s Mortgage Rates


Advantages of a 10-year fixed-rate mortgage

There are three main advantages to a 10-year fixed mortgage:

  1. Much lower interest rate:

    One of the biggest advantages is that you can typically get a much lower interest rate — about a quarter of a percent less on average — with a 10-year fixed-rate mortgage compared to a 15-year fixed-rate loan.

    Additionally, if you have a sub-par credit score preventing you from qualifying for the lowest rates on a 30-year loan, you still might be able to get a lower rate by choosing a shorter loan term.

  2. Reduced repayment amount:

    A lower interest rate, in general, usually means a lower repayment amount, since you’re paying less overall in interest. On top of that, you might be able to save more or tackle other debts more aggressively due to the shorter term.

    For example: Let’s say you buy a home for $250,000 with a 5% down payment. Your 10-year fixed loan comes with a fixed interest rate of 2.50%. The total repayment would be $268,863.89, and your total interest charges would be a little more than $31,000.

    Now, if you get a 15-year fixed-rate loan at 2.95%, the numbers would be a little different, even with the same home price and down payment. This time, you’d be looking to pay off a total of $294,216.37, with your interest adding up to more than $56,000.

    Choosing a 10-year mortgage with a lower rate makes a big difference in how much you ultimately pay.

  3. Faster equity:

    Finally, with current 10-year mortgage rates, you could build equity much faster. With a shorter term, more of your payment each month goes toward your principal. As a result, you build equity in your home much faster.

    If you need a home equity loan, you’re more likely to be able to unlock that asset if you have a 10-year fixed-rate mortgage.


Disadvantages of a 10-year fixed-rate mortgage

A 10-year mortgage can get you a low rate, but it comes with some drawbacks too:

  1. Much higher monthly payments:

    Your monthly payments will be higher with a 10-year mortgage.

    In the example of a $250,000 house with a 2.50% fixed interest rate and 5% down payment, your monthly payment might be $2,448. With a 30-year loan and an interest rate of 3.75%, your monthly payment might be $1,309. That’s a savings of more than $1,000 per month, allowing you better monthly cash flow.

  2. Limited purchase price:

    With a higher monthly payment, you might have to lower your purchase price. If you don’t meet the debt-to-income requirements with a higher home price, you might need to adjust your expectations. Without a longer term, you might not be able to afford the monthly payment on a higher-priced home.

  3. Cash less readily available:

    With a 10-year mortgage, more of your cash will be tied up in your house. In order to access it, you would need a home equity loan or line of credit.

Learn More: 

What Is a Mortgage Rate and How Do They Work?


How to shop for a 10-year fixed-rate mortgage

Make sure to compare different lenders when shopping for mortgage rates. Credible can provide you with a variety of loan terms and prequalified interest rates, based on your current situation. This can help you easily compare your options to see what might make the most sense for you.

Compare Rates

More Mortgage Rates

Still have questions?
We’re here to help!


Mon - Thurs
Sat - Sun

6am - 6pm PT
7am - 4pm PT
7am - 4pm PT

Ready to take the next step? Takes less than 3 minutes.

Find My Rate