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Fixed Rate Mortgage
What is a Fixed-Rate Mortgage?A fixed-rate mortgage is a home loan that has a predetermined and unchanging or “fixed” interest rate for the entire term of the loan.
Features that simplify owning your home
- You’ll know the rate when the loan is originated. Having a fixed monthly payment, rather than one that would fluctuate based on interest rates, makes budgeting easier over the life the loan.
- It’s easy to assess fixed rate mortgage offers by comparing rates.
- Suited to people who plan to stay in their home for a long time.