September 28, 2007, Newsletter Issue #149: Fixed-rate Mortgages

Tip of the Week

The variety of home loans available today can be daunting. You must be sure to research the mortgage products offered by banks and mortgage brokers. A fixed-rate mortgage is a mortgage in which the payment remains the same for the life of the loan. Most fixed-rate mortgages come in 15-year and 30-year terms. The primary benefit of a fixed-rate mortgage is its predictability. You know what the payment is going to be and can plan your household budget accordingly.

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