The most common type of loan option, the traditional fixed rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.
A fixed-rate mortgage is the popular loan program for home buyers. They offer consistent and predictable monthly payments which don't typically change over the life of the loan, which can range between 10 and 30 years.
There are a few exceptions to this, however.
Read more about fixed rate mortgages and whether this is the right loan program for you →