What is a Fixed Rate Mortgage?

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Uploaded by on Jan 12, 2009

What is a fixed rate mortgage loan? A fixed rate mortgage means the borrower has the same monthly payments on the mortgage every month. Fixed rate mortgages are repaid within a specific time frame (10, 15, 20 or 30 years). Watch this Expert Real Estate Tips segment for all you need to know about fixed rate mortgages.

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  • Fixed rate mortgage usually make it looks advantageous to borrowers. Actually, people keep paying their mortgage with the same interest base on the original amount avail by the borrower.

  • Fixed rate? even your paying for the last month of payment considering your debt are now low. But people are still paying the same amount even they only need to pay the last payment along with its interest.

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