How Mortgage Interest Works – Explain Mortgage Rates
Introduction: Explain Mortgage Rates The interest rate on your mortgage stated as a percentage, influences how much you’ll pay to borrow money from a lender. Shorter-term loans, such as a 15-year mortgage, often offer lower interest rates but larger monthly payments. Longer-term loans, such as 30-year mortgages, have a higher interest rate but lower monthly […]
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