A(n)__________ mortgage has a fixed interest rate and the payment is the same throughout the life of the loan.
A) Fixed rate
B) Interest only
C) 80/20
D) Set rate

Question

Quizplus · Accepted Answer

A fixed rate mortgage is the best choice because it provides a consistent and stable monthly payment, regardless of any changes in interest rates that may occur during the life of the loan. This allows for better budgeting and financial planning, and provides a level of security and predictability for the borrower.

A(n)__________ Mortgage Has a Fixed Interest Rate and the Payment