Guthrie Group Homes Knoxville TN Real Estate
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What is a fixed-rate mortgage?
This mortgage’s interest rate will never change, even if the term of the loan is 30 years.
Fixed-rate mortgages typically have a term of 15 or 30 years.
Homeowners prefer this type of loan as it has a lower amount of risk compared to variable-rate loans, and the monthly payment remains the same for the life of the loan.
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