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What is the difference between A variable rate home loan and a fixed rate home loan?
Wiki User
∙ 13y ago
The lender can change the rate on a variable rate loan. A fixed rate stays the same for the life of the loan.
Wiki User
∙ 13y ago
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What difference does interest rates being variable rather than fixed make to pension plans housing loans and other personal finances?
what difference does interest rates being variable rather then fixed have on pension plans or home loans
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ING offers lots of different rate for home mortgages. They offer both fixed and variable rates. Variable rates start at 5.41% and go as high as 6.07%. Fixed rates start at 4.09 and go as high as 5.39%.
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A home loan rate compares between a fixed and adjustable rate mortgage by one is that it would fluctuate between payments which is the adjustable mortgage and the other the rate stays the same for 30 years.
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What difference does interest rates being variable rather than fixed make to pension plans housing loans and other personal finances?
what difference does interest rates being variable rather then fixed have on pension plans or home loans
What is the difference between fixed income and fixed interest?
Fixed income is when an individual has a source of income that is reliable, but often limited. Examples include social security, pensions, etc. Fixed interest means that the rate of interest charged or accrued from a transaction will not change during the term of the contract. The opposite of this is called variable interest (most common with credit cards and some home mortgages).
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If you want a variable interest rate to fixed, refinancing your home would be the way you can accomplish this. Variable rate also known as an adjustable rate mortgage should be refinanced before your interest rate adjust.
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What kind of rates does ING offer for home mortgages?
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A home loan rate compares between a fixed and adjustable rate mortgage by one is that it would fluctuate between payments which is the adjustable mortgage and the other the rate stays the same for 30 years.
