Because of this, they offer predictable payments, and are ideal for buyers that intend to be in their home for a long time. They come in varieties based on the loan period: 10 year, 15 year, and 30 year. The shorter the loan period, the lower the interest rate but the higher the monthly payments. Fixed Rate Loans are our most popular loan. Blue Water Mortgage offers competitive fixed rate loans for new purchases or refinancing. Talk to a Blue Water professional to lock your rate today.