| |
| What is Fixed Interest Rate?
Fixed Interest Rate is also known as fixed rate or fixed mortgage rate. And this means that after the customer takes the loan he's paying a constant rate over the years to come.
For example you take out a 30 year mortgage rate with an X amount of interest. This interest stays the same year after year. The advantage of this is that your paying less money but the disadvantage is that in the long run you pay more the person who's chosen the other one. A good strategy is to pay it off in seven years with bigger amounts then the monthly debt. | | | | |
|
| |
