Mortgage loans process Fixed-rate mortgage loans have the same interest rate for the entire repayment term. Because of this, the size of your monthly payment will stay the same, month after month, and year after year. It will never change. This is true even for long-term mortgage loan options, such as the 5-years, 7 years , 10 years , 11 years loan against property, fixed-rate mortgage loan. It has the same interest rate, and the same monthly payment, for the entire term