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Fixed Rate Mortgage

Fixed Rate Mortgage

What is Fixed Rate Mortgage?

Fixed Rate Mortgages are mortgages where the interest rate doesn't change for the duration of the loan. When you get a mortgage for your home or property investment, you can consider getting a fixed rate or adjustable rate mortgage.

Commonly, fixed rate mortgages are 15 years and 30 years. Though, some lenders offer custom length mortgages that work with a borrower's objectives.

Similar to Adjustable Rate Mortgages (ARMs), borrowers can only get up to 10 Fannie Mae and Freddie Mac mortgages.

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