Why First-Time Buyers Often Choose Fixed-Rate Mortgages

Buying your first home is a major milestone—and while it’s exciting, it can also come with a lot of questions. Between choosing the right property, getting pre-approved, and understanding your budget, one key decision is often overlooked: what type of mortgage is right for you?

Here at Steven Murdoch Mortgages, we work with first-time buyers every day. One of the most common and reliable options we 

recommend is a fixed-rate mortgage. Here’s why it’s often the preferred choice for new homeowners.

Predictability and Peace of Mind

A fixed-rate mortgage gives you one key advantage: consistency. Your interest rate and your monthly payment stay the same for the entire term of your mortgage. That means no surprises and no stress about rising interest rates.

For first-time buyers adjusting to new financial responsibilities like property taxes, utilities, and maintenance, having a stable and predictable mortgage payment can make a big difference.

Easier to Budget Long-Term

Fixed payments make it easier to plan your finances and manage your monthly expenses. When you’re new to homeownership, knowing exactly what you owe each month allows you to build a solid financial foundation without the uncertainty that comes with fluctuating rates.

Protection in a Rising Rate Market

Interest rates have been anything but stable in recent years. While variable-rate mortgages can offer lower initial rates, they also expose you to potential increases down the road. A fixed-rate mortgage protects you from that risk—making it a safer, more secure option for many first-time buyers.

Choosing the Right Mortgage for You

There’s no one-size-fits-all answer when it comes to mortgages. While a fixed-rate mortgage is a great option for many new buyers, it’s important to explore all your choices. We will help you understand the differences and guide you toward the solution that makes the most sense for your goals.

If you’re a first-time buyer in Edmonton or the surrounding area, let us walk you through your options, answer your questions, and make the process as smooth as possible.

Get in touch with us here Steven Murdoch Mortgages
Let’s find a mortgage that fits your life, your budget, and your future.