For example: a 30 - year fixed rate mortgage with a 15 - year interest - only period works out to two 15 - year loans. (allfinancialmatters.com)
For borrowers who want a lower payment but are uncomfortable with adjustable rate mortgage (ARM) options, lenders have come up with fixed rate mortgages with 40 or even 50 year terms. (loanbiz.com)
But the interest rate for fixed rate mortgage loans tends to be higher than that of variable rate mortgage loans. (badcreditloanservices.com)