If you have purchased or have considered purchasing a home in the past you are probably familiar with what a fixed rate mortgage loan is. While there are a number of different options when it comes to loan programs, the fixed rate option offers the most security against the rise and fall of interest rates and can make owning a home particularly affordable when interest rates are low.
Realtor.com dissects the two primary options you have when considering a fixed rate loan: the 15 year and the 30 year. Whether you’re purchasing a home or refinancing, both have their advantages and disadvantages, so check out the article and find out which one suits you the best!