Cash N 4 Homes

Fixed rate loans

Fixed rate loans means you have to pay the same interest rates until your last installment. If the federal reserve and the bank make changes in the interest rate, it will not affect you. Sometimes, fixed rate loans are beneficial when the interest rates are higher than the value of your interest rate

On the other hand, it has a big disadvantage that when the interest rate goes down, you have the will to pay the higher interest rates. Generally, this type of loan has a time period of 15,20, and 30 years.  

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