Just like other installment loans such as auto loans, your single monthly loan repayment is a fixed amount. (gobankingrates.com)
Paying mortgage loan interest boosts credit scores in the same manner as other installment loans, and adds to the diversity of trade experience — another important factor in the equations. (growingfamilybenefits.com)
This means that the mortgage is paid off in a lump sum all at once, rather than in a series of fixed payments like for other installment loans. (valuepenguin.com)