The two basic types of loans are the fixed rate mortgage and adjustable rate Mortgage? Posted By : nelson smith
The two basic types of loans are the fixed rate mortgage and adjustable rate Mortgage.Fixed rate mortgage can be fixed over set period of time.You need to take into consideration if interest rate’s go up over that period you need to budget the extra funds for that has well.The downside to a fixed rate is if interest rates go down you could be paying more than you should for your mortgage.
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