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Fixed Rate Vs. Adjustable Rate Mortgages



Conventional loans include “fixed rate” and “adjustable rate” mortgages. A fixed rate mortgage has a predetermined interest rate throughout the life of the loan, the most common are for 15 and 30 years.


However, an adjustable rate mortgage has a variable interest rate, and the most common are for 5, 7, or 10 years.



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Terrie O'Connor Realtors Real Estate School.

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