What is a Fixed Home Loan

                  What is a fixed home Loan




This is when the interest rate is Fixed for a set time.
Generally they can be 2 yrs,3yrs 5yrs & even 10 years.


Advantages
Know what the payments will be
Easy to plan ahead.
Interest rates may rise but you stay at a low rate.

Cons
There is a break Fee
Not as flexibale
May not be able to pay extra

Questions to ask

What is the purpose of the loan
How long do I expect to have this loan for
Is this right for me
What if interest rates go down  or go up

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