Definitions for **"Fixed-Rate Mortgage"**

Fixed-Rate Mortgage (FRM) is a loan where the interest rate is locked for the...

Typically, a 15- or 30-year mortgage in which the interest rate is fixed during the set term. The monthly principal and interest payment will remain the same during the term of the mortgage.

A mortgage where the interest rate remains the same during the entire term of the loan.

A mortgage where the rate of interest is fixed for a set period of time. The advantage of this type of mortgage is that the investor can budget accurately. Even if interest rates rise or fall and lenders alter their mortgage rates in line, your monthly payments will stay the same. You usually have to pay a premium on the lender's standard variable rate for such certainty, but many borrowers think it's worth it for the peace of mind it brings. They can also prove to be good value if interest rates rise more sharply than expected. Bear in mind that if you switch lenders before the fixed-rate period is up, you'll have to pay a redemption penalty.

A mortgage in which the interest rate will never change during the entire term of the loan.

MP] A mortgage on which the interest rate and the monthly payment remain unchanged throughout the life of the mortgage.

With a fixed-rate mortgage, the interest rate, monthly principal, and interest payments are agreed upon from the outset and do not change throughout the term of the mortgage.

(See amortized mortgage.)

A home loan whereby interest remains fixed for the entire loan term.

A home loan whose interest rate will remain fixed for the entire loan term. About 75% of all home mortgages today are fixed-rate mortgages.

Interest rate and monthly payments remain the same for the entire term of the loan.

Interest rates on this type of mortgage remain the same over the life of the loan term. Compare to " Adjustable Rate Mortgage."

A mortgage that maintains the same interest rate for the entire term of a loan.

The fixed interest rate that you pay on your mortgage, for a specific period of time .

is one in which the rate of interest is fixed (does not change) throughout the term. The mortgage can be open or closed.

A mortgage where the interest rate does not change over the term of the loan.

A loan with an interest rate and monthly payments that do not vary.

A fixed-rate mortgage is one in which the home mortgage loan rate doesn't change during the entire term of the loan.

A mortgage with payments that stay the same during the entire life of the loan. The loan's interest rate is fixed and will not fluctuate with market changes. More on fixed-rate mortgages

A mortgage loan with an interest rate and payments that do not change over the life of the loan.

a loan for which the interest rate does not change over the term of the loan

a loan secured against the value of a property where

a loan that has the interest rate and payment set for the life of the loan

a loan whose rate of interest does not change during the life of the mortgage

a mortgage where the interest rate on

a mortgage with an interest rate that is fixed for

A mortgage-loan note in which the interest rate is fixed for the life of the loan.

A loan with an interest rate that never changes.

A mortgage with an interest rate that stays the same (fixed) for the life of the mortgage.

A fixed rate mortgage is based upon a specified interest rate, for example 7.5%, which is applicable during the entire term of the mortgage.

A mortgage with an interest rate that will not vary throughout the entire loan term.

A mortgage that has a set interest rate and is basically unaffected by interest rate changes.

A mortgage in which your interest rate is fixed for the life of the loan; it never adjusts or changes.

A mortgage loan with an interest rate that will not change for the entire term of the loan.

Interest rate and payments remain identical for the duration of the loan.

A mortgage that has a set interest rate for the term of the loan.

Mortgage with an interest rate that doesn't change during the loan's entire term.

A loan on which the interest rate and monthly payment do not change.

A loan that has an interest-rate which is fixed for the life of the loan

A mortgage with a set interest rate for the entire term of the mortgage.

Mortgage for which the interest rate is set for the entire term of the loan.

The mortgage-payment rate and loan payments remain fixed for the life of a loan. Interest rates do not vary.

A mortgage loan that specifies in its terms an interest rate that will remain at the same level throughout the life of the loan.

A home loan with a predetermined fixed interest rate for the entire term of your loan. This means that the interest rate will never change for as long as you have the loan.

A mortgage with an interest rate that is pegged at a set level for an agreed number of months or years.

This form of home loan guarantees the same interest rate over the full term of the loan, regardless of fluctuation of interest rates in the market.

A mortgage for which the interest is set for the term of the mortgage.

A mortgage with an interest rate and monthly payments that remain constant over the life of the loan.

A mortgage in which the buyer contracts for a specified interest rate over a specified period of time. The principal and interest payment does not vary.

FHA loan

The interest rate on the mortgage is pegged at a set level for an agreed number of months or years. Pull out before the end of that period and you'll end up paying a redemption penalty.

mortgage on which the interest rate does not change for the term of the loan.

A mortgage with a constant interest rate over the life of the loan.

The interest rate you pay on your mortgage is fixed at a set interest rate, usually for a set period.

A mortgage whose interest rate is locked in for the life of the loan, which commonly ranges from 15 to 30 years in duration. Compares to Adjustable Rate Mortgages (ARMs).

A home loan with an interest rate that will remain the same for the term of the loan.

a loan with a single interest rate for the life of the loan.

A mortgage in which the interest rate does not change during the entire term of the loan.

The mortgage payments stay the same, regardless of the standard variable increase rate changing. Rates are usually fixed for a period of one to 10 years.

A fixed-rate mortgage allows buyers to lock in at a specific rate of interest, which will remain in force for the life of the loan. This allows the buyer to predict exactly how much it will cost on a monthly basis to finance the property.

This is a mortgage with an interest rate that stays the same for the life of the loan (15, 20, 25 or 30 years). Most first-time home buyers prefer FRMs because the predictable monthly payment makes it easy to budget. The only change to your monthly payment would be due to an increase in real estate taxes or homeowner's insurance.

A mortgage interest that are fixed throughout the entire term of the loan.

A loan with an interest rate and monthly payment that stays the same over the entire term of the loan.

A mortgage with an interest rate that remains constant over the life of a loan.

A mortgage which has a fixed rate of interest over the life of the loan.

A mortgage for which the rate of interest is fixed for a specific period of time (the term). Foreclosure - A legal procedure whereby the lender eventually obtains ownership of the property after the borrower has defaulted on payments.

Mortgage that provides for only one interest rate for the entire term of the mortgage. If the interest rate changes because of enforcement of the due-on-sale provision, the mortgage is still considered a fixed-rate mortgage.

A loan where the interest rate remains constant over the entire term of the loan.

a mortgage with an interest rate that remains constant for the life of the loan. The most common fixed-rate mortgage is for a term of 30 years, but there are also terms of 15 years.

A mortgage whose rate remains constant throughout the life of the mortgage.

A mortgage for which the interest rate will remain the same throughout the entire term for the original borrower.

A loan that has only one stated interest rate.

A mortgage having a rate of interest that remains the same for the life of the mortgage.

A mortgage with an interest rate that does not change during the entire term of the loan.

A loan where the interest rate is not subject to change for the entire term of the loan.

A finance method in which the interest rate stays the same for the period of the loan, usually 15 or 30 years.

A home loan in which the interest rate will remain the same through the life of the loan.

The type of loan where the interest will not change for the entire term of the loan.

A mortgage for which the rate of interest is set at a specific level for a certain term, ranging from six months to five years or more.

A home loan with a fixed interest rate; consistent payments throughout the life of the mortgage.

A mortgage loan with an interest rate that does not change over the term of the loan.

A mortgage set up with one fixed interest rate for the entire term of the mortgage, so the borrower pays the same monthly payments for the life of the loan. This offers predictability, an advantage for borrowers on fixed or limited incomes.

A loan with an interest rate that remains the same throughout the life of the loan usually 15 or 30 years.

The interest rate you pay and the monthly principal and interest payments are agreed upon from the outset and will not change throughout the entire term of the mortgage.

A mortgage in which the interest rate & payments do not change during the term of the loan.

The fixed-rate mortgage is the granddaddy of all mortgages. You lock into an interest rate (for example, 8.5 percent), and it never changes during the life (term) of your 15- or 30-year mortgage. Your mortgage payment will be the same amount each and every month. Compare fixed-rate mortgages with adjustable-rate mortgages.

A residential loan with a set rate of interest. The rate of interest remains constant throughout the duration of the loan.

A loan that fixes the interest rate at a prescribed rate for the duration of the loan.

A mortgage whose interest rate does not change during the life of the loan.

A debt instrument in which the interest rate does not change during the entire loan term. Also referred to as FRM.

A type of loan where the interest rate is locked in for the full term of the loan.

A mortgage with a set interest rate for the entire loan, regardless of interest rate fluctuations. This creates consistent, predictable payments, but it's not always the cheapest option.

A mortgage on which the interest rate is set for the term of the loan.

A loan with an interest rate that remains constant over the life of the loan

A mortgage whose interest rate and resulting monthly payments do not change for the life of the loan.

A mortgage that has a fixed rate of interest for a set period of time, typically three to five years. Even if interest rates rise or fall and lenders alter their mortgage rates in line, your monthly payments will stay the same. You'll usually pay a slight premium on the lender's standard variable rate for such certainty, but many borrowers think it's worth it for the peace of mind it brings. They can also prove to be good value if interest rates rise more sharply than expected. Bear in mind that if you switch lender before the fixed-rate period is up, you'll have to pay a redemption penalty.

A home loan with an interest rate that will remain at a specific rate for the term of the loan. About 75 percent of all home mortgages have fixed rates.

The interest rate on a fixed-rate mortgage is set for a pre-determined term - usually between 6 months and 25 years - and cannot be renegotiated, except upon payment of breakage costs. Interest is calculated semi-annually, not in advance.

a mortgage with an interest rate that remains constant for the life of the loan. The most common fixed-rate mortgage is repaid over a period of 30 years; 15 year fixed-rate mortgages are also available.

monthly mortgage loan in which the installments are the same each month

A mortgage where the interest rate does not change for the life of the loan.

A mortgage in which the interest rate (and therefore the monthly payment) remains the same for the entire life of the loan. 30-year and 15-year fixed rate mortgages are industry standards. Many homebuyers prefer a fixed-rate loan because the payment amount never changes.

A mortgage that allows you to lock in an interest rate for the entire term (generally 15 or 30 years) of the mortgage. Your mortgage payment will be the same amount every month.

A mortgage featuring level monthly payments, determined at the outset, which remain constant over the life of the mortgage.

The type of loan where the interest rate will not change as it has a fixed interest rate.

A mortgage in which the payments remain the same for the life of the loan.

The interest rate on the mortgage is fixed at a set level for an agreed number of years. If you change your mortgage before the end of that period and you will likely have to pay a redemption penalty.

In this type of mortgage, payments stay the same during the term of the loan. Fixed-rate loans are often made for 15 years or 30 years. You can cut the interest rate by taking a shorter-term loan, but the monthly payment will be higher.

A conventional fixed-rate mortgage means that your interest rate will be the same for the entire life of the home loan. Financing for this type of loan is typically spread out over 10, 15, 20, or 30 years, depending on the needs and payment capability of the buyer. A fixed-rate mortgage provides buyers with the security of knowing exactly what their monthly house payment will be during the entire loan term.

A loan that carries an unchangeable interest rate over its entire term - typically a period of 15-30 years.

A type of mortgage in which the interest rate remains the same, or "fixed," throughout the term of the loan. Lenders typically charge a higher interest rate for these mortgages. The most common fixed-rate mortgages are 15-year and 30-year.

A mortgage in which the interest rate remains fixed over the duration of the term of the loan

a mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.

mortgage in which the interest rate stays the same during the entire term of the loan. If you decide that you like the stable, predictable payments of a fixed-rate loan, you have the option of choosing from a variety of repayment terms: 15, 20, and 30 years are the most common. Typically, the longer the term of the mortgage, the more interest you pay over the life of your loan. However, stretching out your repayment term means your monthly mortgage payments will be less than they would be with a comparable shorter-term mortgage.

means that you'll be charged a fixed-rate of interest over the life of the mortgage loan. Can be good, but if interest rates are below the fixed-rate, then you're effectively paying more than you should be. On the flip-side, if interest rates are higher than the fixed-rate, you are saving money. So, you need to do your calculations carefully on this one

This is the usual form of mortgage where interest rate remains the same during the entire; life of the loan.

A mortgage with a set interest rate that will not vary for the life of the loan.

A mortgage with an interest rate that remains the same throughout its term.

A loan with an interest rate that remains the same for the entire repayment term.

Freddie Mac FSBO

Strip Commercial

an attractive option for a long-term borrower, since monthly payments do not fluctuate

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