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Saving, Managing Debt, and Budgeting

Mortgages

What is a fixed-rate mortgage?

A fixed-rate mortgage has a fixed interest rate for the period of the loan, and allows you to pay off the loan over a period of time. Such amortization periods can be 10 years, 15 years, 20 years, 30 years, and even 40 to 50 years.



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