| Fixed-Rate Mortgage |
| A mortgage that has a fixed interest rate for the entire term of the loan. The distinguishing factor of a fixed-rate mortgage is that the interest rate over every time period of the mortgage is known at the time the mortgage is originated. The benefit of a fixed-rate mortgage is that the homeowner will not have to contend with varying loan payment amounts that fluctuate with interest rate movements. |
Monday, October 5, 2009
Fixed-Rate Mortgage
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment