Static Payment
When you have a variable-rate mortgage with a fixed payment amount you have a Static Payment. The mortgage payment amount is fixed for the term of the mortgage and does not change when interest rates change.
About The Author
Don Scott
Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.
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