Fixed-Rate Mortgage Basics

Fixed-Rate Mortgage (FRM) Fixed-rate mortgages are popular because they're relatively simple and low-risk.  The most common types are 15- and 30-year FRMs, although other terms are available. Advantages Stable monthly payments Rising interest rates have no effect on the cost of borrowing The opportunity to make extra payments on the principal can significantly reduce the … Continue reading Fixed-Rate Mortgage Basics