A mortgage with a constant interest rate with a constant periodic payment over the real estate loan's life.
A) Adjustable-rate mortgage
B) Prime mortgage
C) Fixed-rate mortgage
D) Subprime mortgage

Question

Quizplus · Accepted Answer

A fixed-rate mortgage has a constant interest rate and periodic payment throughout the life of the loan. This provides stability and predictability for the borrower, as they will always know their monthly payment amount.

A Mortgage with a Constant Interest Rate with a Constant