A fixed rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float."

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335 hits Rate me! Share Favorite | Flag 14 years ago by KikiPeepers

If you have a mortgage, is it a fixed rate one?
A fixed rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float."

http://en.wikipedia.org/wiki/Fixed_...


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14 yrs ago, 1 mos ago - Sunday 4/13/08 - 6:20:26 PM EST (GMT-5)
Well, yeah. It would be foolish not to.
14 yrs ago, 1 mos ago - Sunday 4/13/08 - 6:28:16 PM EST (GMT-5)
My parents do have a fixed one, I believe, I don't.
14 yrs ago, 1 mos ago - Sunday 4/13/08 - 9:56:27 PM EST (GMT-5)
I don't have a mortgage yet, but I'd never get one without a fixed rate. Anyway, I'll get the VA loan, so I think that guarantees a fixed rate.
13 yrs ago, 11 mos ago - Monday 6/2/08 - 4:07:33 PM EST (GMT-5)
yes thank god
13 yrs ago, 11 mos ago - Monday 6/2/08 - 5:49:29 PM EST (GMT-5)
Considering that my mortgage was for a 20 year term, it would have been pretty foolish to take one with a variable rate...

13 yrs ago, 11 mos ago - Monday 6/2/08 - 6:30:08 PM EST (GMT-5)
On Sunday 4/13/08 - 9:56:27 PM HaroldtheBat wrote:
I don't have a mortgage yet, but I'd never get one without a fixed rate. Anyway, I'll get the VA loan, so I think that guarantees a fixed rate.


Not unless they've changed the rules in the last few years.

My husband and I bought a house using a VA loan with a variable interest rate.

We refinanced to a fixed 7% rate later on.

When we were in the middle of the housing bubble, we refinanced again for a 5.25% fixed rate.

13 more years to go...
13 yrs ago, 11 mos ago - Saturday 6/7/08 - 4:44:04 AM EST (GMT-5)
I don't have a mortgage, but If I did, I would go for a FRM.



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