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Twenty-year fixed mortgage
Twenty-year fixed mortgage A 20-year fixed mortgage is a loan that has an interest rate that stays the same for the 20-year term of the loan.
RELATED TERMS--------------------------------------
Fixed
A time period that is fixed for each calendar year, either by date or by calendar weeks; most in numerical sequence 1-52.
Mortgage
A legal document pledging property as security for the payment of a loan.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Interest
Money paid to a lender as compensation for money that is borrowed.
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Term
The length of time in which a loan is to be paid off.
SIMILAR TERMS--------------------------------------
Twenty-year fixed refinance mortgage
A 20-year fixed refinance mortgage is a loan replaces an existing loan and has an interest rate that stays the same for the 20-year term of the loan. This type of loan is popular for people who have already paid down a lot of the principal of their existing mortgages.
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Twenty-year fixed mortgage
Twenty-year fixed refinance mortgage
A 20-year fixed refinance mortgage is a loan replaces an existing loan and has an interest rate that stays the same for the 20-year term of the loan. This type of loan is popular for people who have already paid down a lot of the principal of their existing mortgages.
Three month LIBOR rate
LIBOR stands for London Interbank Offered Rate, a standard financial index used in U.S. capital markets. It's the rate of interest at which banks offer to lend money to one another in the wholesale money markets in London.
Thirty-day notice
Notice to vacate a premises under a periodic tenancy.
Thirty-year FHA mortgage
A Thirty-year FHA mortgage is insured by the Federal Housing Administration and has an interest rate that stays the same for the Thirty-year life of the loan.
Thirty-year FHA mortgage refinance
A Thirty-year FHA mortgage is insured by the Federal Housing Administration and has an interest rate that stays the same for the Thirty-year life of the loan.
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