25 Year Fixed Mortgage

A 25-Year Fixed Mortgage is a type of home loan where the interest rate remains the same for the entire term of the loan, which in this case is 25 years. This type of mortgage offers predictable monthly payments, making it easier for borrowers to budget over the long term. The 25-year term strikes a balance between the typical 15-year and 30-year fixed-rate mortgages, providing lower monthly payments than a 15-year loan while allowing the borrower to pay off the mortgage faster than with a 30-year loan. With a fixed interest rate, borrowers are protected from market fluctuations, offering stability and peace of mind. While the monthly payments may be slightly higher than a 30-year mortgage, the loan is paid off in a shorter period, often saving on overall interest paid.