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The same interest rate throughout the term of the loan: Variable-Rate Mortgage Fixed-Rate Mortgage No-Rate Mortgage Adjustabie-Rate Mortgage

Pergunta

The same interest rate throughout the term of the loan:
Variable-Rate Mortgage
Fixed-Rate Mortgage
No-Rate Mortgage
Adjustabie-Rate Mortgage

The same interest rate throughout the term of the loan: Variable-Rate Mortgage Fixed-Rate Mortgage No-Rate Mortgage Adjustabie-Rate Mortgage

Solução

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HugoProfissional · Tutor por 6 anos

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Explicação

## Step 1<br />The problem is asking us to identify the type of mortgage where the interest rate remains constant throughout the term of the loan. <br /><br />## Step 2<br />Let's analyze each option:<br />- A Variable-Rate Mortgage (also known as an adjustable-rate mortgage) has an interest rate that can change over time.<br />- A No-Rate Mortgage does not exist in the financial world.<br />- An Adjustable-Rate Mortgage (also known as an adjustable-rate mortgage) has an interest rate that can change over time.<br />- A Fixed-Rate Mortgage has an interest rate that remains constant throughout the term of the loan.<br /><br />## Step 3<br />Based on the above analysis, the correct answer is a Fixed-Rate Mortgage.
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