
	Your Personal Finance Magazine	Finances ~ Banking ~ Investing ~ Financing ~ Credit Cards ~ Insurance

You are here: Home: Financing: Fixed rate mortgage

Thursday ~ October 10 ~ 2024

Category: Financing

Fixed rate mortgage

First time home buyer option ...

The latest articles

Making money on the side with a model job
Working as a model is the perfect way to make some money on the side with a part-time job that does not require … more
Category: Finances

Incoming insurance for foreign guests and visitors to Germany
In the event that foreigners visiting Germany, Switzerland and other Schengen countries are taken ill, the medical costs can be covered by an … more
Category: Insurance

Saving money on your grocery bill
Many people pass over the coupon pages of the Sunday newspaper without even giving it a thought. If you found a dollar bill … more
Category: Finances

The Rent-to-Own Trap
You see a TV set at the rent-to-own center that you like. It's a big-screen version, complete with high-definition capabilities and a remote … more
Category: Finances

Houses are so expensive today that it makes it difficult to commit to take the plunge and acquire a large monthly payment. In fact, trying to decide which type of mortgage to get is almost as difficult as trying to narrow down your choice of a new home.

Unfortunately, your choice is even more difficult should you decide to purchase a home that has an overly large price tag on it. Depending on your monthly income, you may not even be able to afford the home of your dreams unless you take out two mortgages, an interest only mortgage, or a balloon mortgage.

In most cases, a fixed rate mortgage is going to be the first pick. It offers the same payment every month for the lifetime of the mortgage. One of the benefits to a fixed rate mortgage is that the interest rate is fixed. This means that the rate you lock in at the time of your acquisition of the mortgage will be the rate that you will be charged over the lifetime of the loan.

This is great because you don’t get any surprises. Fixed rate mortgages are commonly offered in 20, 25, and 30-year terms. However, larger terms of 35 and 40 years are also becoming the norm, as are shorter terms of 15 years. (don)

Bookmark

Average rating: 10 of 1 votes.

------------------------------------------------------------------------------------------------------------------------------------

More articles in category Financing:

Interest only mortgage
The interest only mortgage is a terrific financial tool for those of you who want to buy more home than you can currently afford. It is also a great financial tool for those of you who want to buy a home with an income that is currently irregular and … more

Adjustable rate mortgage
If you are buying a home for the first time, then you are wondering what type of mortgage to get. Unless you have a reliable friend, relative, or acquaintance that is going to tell you the truth, do the research on your own first. Mortgages come on a wide variety. … more

Payday loans
A payday loan is a fast, simple and easy way to obtain cash when you need it, right away. Maybe your car suddenly needs a new transmission. You need it to go to work, but the mechanic won't release until you pay the bill in full ... and you won't … more

Beware of bad credit loans
You might think that having bad credit means that you cannot obtain a loan or that you will need to pay outrageous interest rates on your loan. However, this is not necessarily the case. Some lenders take advantage of people who have bad credit. For this reason, you should be … more

Your personal finance magazine at Porias.com
Finances ~ Banking ~ Investing ~ Financing ~ Credit Cards ~ Insurance	Copyright © 2005- Porias.com ~ All rights reserved