What Does Fixed-Rate Mortgage Mean?
The term fixed-mortgage refers to a home loan that has a higher interest rate than the life of the loan. This means that there is a certain interest rate from the beginning to the end of the mortgage. The fixed mortgage rate can be between 10 and 30 years. This is a popular product for consumers who want to know how much they are paying each month.
- A fixed rate mortgage is a home loan that receives a fixed rate for the life of the loan.
- Once defined, interest rates are no different from market conditions.
- Lenders who want to make predictions and who have a tendency to own property in the long run prefer a fixed rate mortgage.
- The highest fixed rates are mortgaged loans.
- Unlike fixed mortgage rates, there are adjustable mortgages whose interest rates change over the life of the loan.
A mortgage in which the repayment remains the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
Fixed-Rate Mortgage means: KPR with a fixed interest rate that does not adjust at any time during the life of the loan.
Literal Meanings of Fixed-Rate Mortgage
Meanings of Fixed:
(Specifically a fixed price, fixed price or fixed period) and cannot be changed or modified.
(Sports competition) the end result of which is decided with dishonesty.
Sentences of Fixed
The iron ladder remains on the left
Most funds block investors for a certain period of time
Synonyms of Fixed
decreed, established, stable, secure, fastened, firm, specified, predetermined, prearranged, agreed, allotted, settled, arranged, prescribed, set, decided, confirmed, determined, fast
Meanings of Rate:
Pay a fixed price or charge something for something, especially good or service.
Synonyms of Rate
reckon to be, charge, judge to be, consider to be, tariff, deem to be, fare, think to be, measure, appraise, calculate, value, estimate, amount, judge, hold to be, assess, figure, find to be, price, cost
Meanings of Mortgage:
A legal arrangement under which a bank or other lender lends at interest in exchange for the allocation of the lender's property, provided the transfer of ownership is terminated in the settlement of the debt.
Assign (assets) to lenders as collateral for the loan.
Sentences of Mortgage
I deposited one lakh cash and took out the rest of the mortgage
The farm was mortgaged
Synonyms of Mortgage
advance, guarantee, mortgage, credit, put up as collateral, pawn