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What is a Fixed-Rate Mortgage?

A fixed-rate mortgage is one of the most common types of loans. It comes with an interest rate that stays the same for the lifetime of the loan, and provides the borrower with more stability and predictability over the lifetime of their loan.

While mortgage payments can fluctuate as property taxes and homeowner’s insurance change, many consumers prefer the fixed-rate mortgage for its long-term reliability. Considering a career in real estate? Check out our upcoming pre-licensing courses here:

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Kiter Peter
Kiter Peter
Jun 16, 2023

While homeowner's insurance and property taxes might alter, so can mortgage payments.

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Gabriel Handelman
Gabriel Handelman
Jun 06, 2023

With a fixed-rate mortgage, the interest rate is typically determined at the time of loan origination and remains fixed for the entire duration of the loan.

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