What is FIXED RATE LOAN?

A loan contract with interest and payment amount that is the same through the life of the loan. AKA fixed rate mortgage.

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Related Legal Terms
NOMINAL LOAN RATE, FIXED EXCHANGE RATE, LOAN RATE, FIXED RATE, FIXED RATE BOND, ANNUAL FIXED RATE, PRIME RATE LOAN, RENEGOTIABLE RATE LOAN, FIXED-RATE BOND, FLOATING RATE LOAN


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