Question

Which of these describes how a fixed-rate mortgage works?


The monthly payment on a fixed-rate mortgage never changes.


The bank gets paid all of the interest before the principal on the loan goes down.


The purchase price of the house never goes up with a fixed-rate mortgage.


The property taxes on a fixed-rate mortgage never get any higher.

Answer 1

Fixed mortgage rate never changes, it stays the same every month, i should know this one, i help my grandma with our own mortgage.

Answer 2

yes you are correct

Answer 3

Wait...

Answer 4

?

Answer 5

Oh yeah that's right nevermind

Answer 6

Here is a slide from my powerpoint.

Answer 7

Just a second.