|
|||||
|
|||||
Mortgage Types: Fixed and Adjustable Rate MortgagesFixed and adjustable rates mortgages are the two primary types of mortgages. In fact, most loans can be categorized as either fixed or adjustable, or a combination of both.
Fixed rate mortgagesFixed rate mortgages are the simplest to understand. Your interest rate and payment stay constant for the duration of the loan. Most fixed rate mortgages are for 30 years, although you can also get them for 15 or 20 years. Fixed rate mortgages with shor |