MLchartDataset catalogue

Fixed rate mortgage

Term · Law · MLC-T-LAW-002147

A type of home loan where the interest rate remains constant for the entire duration of the loan term. This provides borrowers with predictable monthly payments, as the principal and interest portion does not change. Common terms for fixed-rate mortgages are 15, 20, or 30 years.

Table 1. Record
IdentifierMLC-T-LAW-002147
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002147",
  "term": "Fixed rate mortgage",
  "field": "Law",
  "definition": "A type of home loan where the interest rate remains constant for the entire duration of the loan term. This provides borrowers with predictable monthly payments, as the principal and interest portion does not change. Common terms for fixed-rate mortgages are 15, 20, or 30 years.",
  "url": "https://mlchart.com/terminology/law/fixed-rate-mortgage/"
}

Record 2,055 of 5,439 in Law terminology (MLC-0107). Request the full dataset.