What Is Fixed-Rate Mortgage?

Fixed rate sign or stamp on white background, vector illustration

A fixed-rate mortgage is a type of loan that allows homeowners to lock in a pre-determined interest rate over the life of the mortgage. This can provide a sense of financial security and peace of mind to those looking to purchase a home. With a fixed-rate mortgage, you know exactly what your monthly payments will be for the entire duration of the loan and won’t be subject to any fluctuations in the market. If you’re looking for a reliable and predictable way to finance your home, a fixed-rate mortgage may be the right choice for you.

What Is Mortgage Insurance Premium?

What Is Adjustable-Rate Mortgage (Arm)?