The dictionary defines mortgage, as “a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms”. There are many features to consider when securing a home loan. You’ll want to consider the size of the mortgage, method of repayment, interest rate and maturity of the loan. Fixed Rate Mortgage 75% of all mortgages are fixed rate, it’s the mainstay of the home loan industry. They’re popular because they’re predictable. Borrowers … [Read more...]