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Home Loan, Mortgage Loan, Open Plot Mortgage Loans2023-05-30T02:43:28
Home Loan, Mortgage Loan, Open Plot Mortgage Loans
TWO TYPES OF INTEREST RATES IN MORTGAGE LOANAn individual who wishes to take a loan against property can choo
TWO TYPES OF INTEREST RATES IN MORTGAGE LOAN
An individual who wishes to take a loan against property can choose between two types of interest rates. These interest rates vary according to the duration of the loan.
FIXED INTEREST RATE MORTGAGE LOAN : duration 5 to 10 years , This interest rate remains fixed throughout the loan duration. It varies from institution to institution but the general rate .
ADJUSTABLE RATE MORTGAGE LOAN : duration 10 to 15 years , This interest rate is not fixed and static, it varies according to prevailing market conditions.