What is a Fixed-Rate Mortgage?

One of the many types of home loans offered to borrowers is called a fixed-rate mortgage. Unlike an adjustable-rate mortgage, the monthly payments for a fixed-rate mortgage stay stable throughout the life of the loan. This type of home loan is most commonly available in 15 and 30-year mortgages and can provide the stability many home buyers require during unstable economic times. Get in touch with the professional team at Hansen Mortgage Services, Inc for more information.