What Is a Fixed-Rate Mortgage?

What is Fixed-rate mortgage
Downtown Fort Lauderdale, FL

A fixed-rate home mortgage has an interest rate that remains the same for the life of the mortgage.

That means, the monthly pricipal and interest payment will not change during the life of mortgage.

It has one single the same payment every month, what gives stability and predictability to plan for the monthly budget.

Here are some other blog posts that I have written already about the mortgage: what is a mortgage , Fannie Mae loan,and Freddie Mac loan.