Fixed Rate Loan


Also found in: Acronyms.

Fixed Rate Loan

A loan with an interest rate that does not change over the life of the loan. For example, if one borrows money at a fixed interest rate of 10%, then 10% is amortized over the maturity of the loan and thus payments never change. A fixed interest rate differs from a variable interest rate, which may change, at least within certain parameters. Most home mortgages in the United States are fixed rate loans.
References in periodicals archive ?
The robust rent roll and high level of historical occupancy were factors in providing Goodrich with a non-recourse, competitive 10-year fixed rate loan term.
"If you want a fixed rate loan, I believe they will be cheaper in November and December."
A WITH a fixed rate loan, interest rates are set for a period, usually between one and five years, so if interest rates rise, your monthly payments will stay the same.
The average fee charged to someone taking out a discount mortgage has risen by 15 per cent, to pounds 407, while fees for fixed rate loans are 22 per cent higher, at an average of pounds 494, according to financial website MoneyExpert.com.
Popular 15 year refi fixed rate loan interest rates are coming out at 3.125% with an APR of 3.417%.
* Len Solinsky closed a fixed rate loan in the amount of $2,600,000 for a single tenant commercial building on East 145th Street in the Bronx.
* A $1,500,000 fixed rate loan for the purchase of 94 West Main Street in Plainville, Connecticut.
Around 35 per cent who would take out a fixed rate loan said they wanted the certainty of knowing what their monthly repayments would be, while 11 per cent of people thought it would be cheaper than a variable rate mortgage.
* 10 year fixed rate loan for a mixed use property located at 283 West 11th Street in New York, New York.
The terms included a three year fixed rate loan at 70% LTV with a floating rate prime of 1.5% and 25 year amortization at a rate of 7.75%.
Customers, who thought they were being astute by taking out a long-term fixed rate loan when interest rates were high, didn't look closely at the likely downside until the cost of borrowing plunged over the last year.
The proposed $22.5 million Freddie Mac takeout loan will be a 7-year, fixed rate loan with a 1-year floating rate extension option.