What are the opposite words for variable rate mortgage?

The term "variable rate mortgage" refers to the type of home loan where the interest rate fluctuates based on market conditions. The antonyms of this term include "fixed-rate mortgage" or "fixed-term mortgage." A fixed-rate mortgage offers an interest rate that remains the same throughout the life of the loan, providing borrowers with certainty and stability in their monthly payments. On the other hand, a fixed-term mortgage has an interest rate that changes periodically but only for a predetermined period, typically anywhere from one to ten years. While variable rate mortgages can be more affordable in the short term, fixed-rate or fixed-term mortgages provide peace of mind and allow for better long-term financial planning.

What are the antonyms for Variable rate mortgage?

• n.

  • adjustable-rate mortgage
  • FRM
  ,
  • conventional mortgage
  ,
  • fixed-rate mortgage
  .

Related words & questions

Related words: rate mortgage, fha mortgage, what is a variable rate mortgage, fixed v. variable rate mortgage, is a fixed mortgage good, does a variable rate mortgage have a risk, do you need a lock-in period for a variable rate mortgage, VA mortgage rates

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