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Fixed rate loans have a fixed interest rate and fixed payment for their entire term. Fixed rate loans are available today for terms of 15, 30 and 40 years. Shorter term loans typically have lower rates because there is less market risk for the lender and higher payments because the loan amount has to be paid back over a shorter period. Many of these loans are available with an interest-only feature for up to 10 or 15 years.
Learn about other loan types...
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Information on Communities of the East Side, and Greater Seattle Area
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