Definitions for **"fixed-rate loan"**

A loan in which the interest rate does not change during the entire term of...

A loan whose interest stays the same throughout the life of the loan.

A loan whose rate is fixed for the life of the loan.

A loan whose interest rate does not change for the life of the loan. Payments are also fixed.

A loan with the same rate of interest for the life of the loan.

A mortgage having a rate of interest which remains the same for the life of the mortgage.

A loan with a set or fixed rate of interest. Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan. Fixed-rate loans generally have repayment terms of 15, 20, or 30 years.

A loan that bears the same interest rate until loan maturity.

A loan in which the interest rate or payment does not change during the course of the loan.

A type of home equity loan that features a fixed monthly payment and term, much like a standard 30-year fixed mortgage. Different from a home equity line of credit.

A fixed rate loan has an interest rate and payment amount that stays the same throughout the term of the loan.

A mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.

The interest rate remains constant over term of loan.

A loan arrangement where the interest rate stays the same for the length of the loan. Most Auto loans are fixed-rate loans.

loan on which the rate paid by the borrower is fixed for the life of the loan.

A loan in which the interest rate remains static throughout the term of the loan. Fixed rate loans are best to take out when interest rates are low because it allows an individual to lock in the low rate and not be concerned with fluctuations. However, if interest rates were historically high at the time of the loan, the individual would benefit from a floating rate loan, because as the prime rate fell, the rate on the loan would decrease.