This allows a lender to create a payment schedule with constant payments over the entire life of the loan. (investopedia.com)
Fixed rate loans offer the advantage of being predictable since you will know exactly what your payment is for the entire life of the loan. (studentloans.net)
With terms starting at 15 years, fixed - rate mortgages offer interest and principal payments that remain the same for the entire life of the loan. (gobankingrates.com)