Fixed Rate Mortgages

If you don’t want any surprises over the life of your loan.

Definition:
An interest rate which is fixed for the term of the loan

This is the most commonly understood type of financing for all loan types. 

Advantages:

• Allow for the lowest stable payment over the longest period of time.   

Disadvantages:

• Does not allow your interest rate to be reflective of the current rate available which, may be lower.