Fixed-Rate Mortgage


FRM. A mortgage in which the interest rate does not change during the entire term of the loan. also called conventional mortgage.

Use Fixed-Rate Mortgage in a sentence

You should always shop around when looking for a fixed-rate mortgage so that you know you are getting the best price.

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When I was buying a home, I chose a fixed-rate mortgage because I wanted to make sure that the interest rate would remain the same throughout the term of the loan.

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After looking at an amortization table, Fred was surprised to learn that all the payments on a 30 year fixed-rate mortgage could add up to over double the original loan.

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Adjustable Rate Mortgage Convertible ARM