What is a fixed rate loan and how is it beneficial to me?
Typically, There are three key profile factors needed so you may benefit from a fixed rate loan. They are: 1)Are on a limited or fixed income. 2)Definitely do not anticipate selling within a 5 year period 3)Desire a consistent payment and schedule for a lengthy period of time even if interest rates rise. A fixed interest rate is the set percentage; the actual mortgage note rate, hence providing the basis of your determined guaranteed monthly mortgage payment.
