Fixed Rate Mortgages

The traditional fixed rate mortgage is the most common type of loan program, where monthly principal and interest payments never change during the life of the loan.

Fixed-rate mortgages are available in terms ranging from 10 to 30 years and can be paid off at any time without penalty.

This type of mortgage is structured, or "amortized" so that it will be completely paid off by the end of the loan term.

 

 

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